Economia

What is Economics

Economics is a really big topic that is hard to understand but reality is that everything we do on are day basis is all based on economics. There are many main factors that allof us need to learn so we can understand what happens, how does it happens, and why does it happen. Economics is basically the study of how individuals and societies use limited resources to satisfyunlimited wants. We all use economics in a simple thing as when we go and buy candy at a store, is not just you going and buying the candy, there is a very large amount of people behind that candy youjust bought. But as we see every doesn’t work the way everyone wants and that’s were problems comes in. Problems like scarcity that is when there is a small and inadequate amount of something that isneeded to make something or to produce it. Another problems is when individuals and societies must choose among available alternatives, and this may cost the loss of consumer or it might raise thedemand of something.
There are many terms that are used to understand economics. For example: Economic good which is basically that when there is lots of people demanding a product but the quantity ofsupply reaches zero. Free good is when there is basically more supplied than demand on a item and lastly there is the economic bad and that is what you least want is when people are willing to pay sothey can avoid the item. But we have to think that for all this to happened we need the resources to make all this. One of the resources is land. Land are all the natural resources or also known as“Free gifts of nature” this are the resources that are most use depending on the place you are located. Another resource is labors which is basically the human being helping build or make the products.Another important a something you really need is capital which is basically the monetary part that you need to start company, store, etc. and last but not least the entrepreneurial ability which is...