economia

Economia, commonly referred to in English as economics, is the social science that studies how individuals, firms, governments, and societies allocate scarce resources to satisfy unlimited wants. It analyzes production, distribution, and consumption of goods and services, and how markets, incentives, and institutions shape behavior.

The term can denote both the discipline itself and the economy of a country or region. As a field of study, economia develops theories, models, and empirical methods; as an object of analysis, it describes aggregate outcomes such as growth, inflation, employment, and trade balances.

Core concepts include scarcity, choice, opportunity cost, supply and demand, market equilibrium, efficiency, and welfare. Economists use theoretical and empirical tools, drawing on data and econometric methods to test hypotheses and forecast outcomes.

Subfields commonly cited include microeconomics, macroeconomics, econometrics, development economics, international economics, behavioral economics, and environmental economics.

Historical overview notes the evolution from early mercantilist thought to classical political economy, marginalism, and Keynesianism, culminating in the modern synthesis that emphasizes interactions among markets, institutions, and policy. Policy instruments include fiscal policy, monetary policy, trade policy, and regulation.

Key indicators such as gross domestic product, inflation, unemployment, productivity, and income distribution are used to assess economic performance and the impact of public policy.