What is Economics about?
Economics examines the choices people make about the use of limited resources to satisfy unlimited wants. Economics helps to explain and predict how goods and services will be produced and consumed. It will tell you who gets what, how, and why.
Economics explores issues of:
- Sustainability (efficient use of scarce resources)
- Enterprise (identifying profit-maximising levels of output)
- Citizenship (economic decisions affecting New Zealand society)
- Globalisation (the benefits of international trade).
Economists are interested in the factors that influence the well being of people and aim to find solutions to improve people’s standard of living.