How does the economy work? (Business Studies)

Understanding how money works in the world. The resources of a person, a business, or a country are limited. Hence, economics is the study of choices—what people, businesses, or countries choose to produce and how they are allocated.

Macroeconomics is the study of the economy as a whole. In contrast, microeconomics focuses on individual parts of the economy, such as households or firms. You will gain the tools to understand your economic world and how to interpret events to benefit directly or indirectly from your understanding.