ökonoomia
Ökonoomia is the Estonian word for economics. Economics is a social science that studies how individuals, businesses, governments, and nations make choices about allocating scarce resources to satisfy their unlimited wants and needs. It broadly categorizes into two main branches: microeconomics and macroeconomics.
Microeconomics focuses on the behavior of individual economic agents, such as consumers and firms, and how
Macroeconomics, on the other hand, deals with the performance, structure, behavior, and decision-making of an economy
The study of ökonoomia, or economics, involves various theories, models, and empirical analysis to understand economic