Economics is the social science that studies the production, distribution, and consumption of goods and services. It examines how individuals, businesses, governments, and societies allocate their resources, which are typically limited, to meet their needs and desires. Economics is divided into two main branches: microeconomics, which focuses on individual agents and their interactions in markets; and macroeconomics, which looks at the economy as a whole, including issues like inflation, unemployment, and economic growth. The field employs various models and theories to analyze economic behavior and to predict the effects of policies and other changes within an economy. Ultimately, economics seeks to understand how societies can efficiently manage their resources and the consequences of economic decisions on human welfare.
NSW and Queensland face pressure to finalize public school funding deals, as no NSW public school meets the minimum funding standard. The Australia Institute highlights wealth inequality, indicating the top…