Chapter 1: Intro To Economics

Let’s begin by asking a simple question: What is economics?
Imagine walking through a lively market, hearing vendors shout prices, people bargaining, and goods changing hands. Behind every transaction is a decision—how much to buy, what to sell, at what price, and with what resources.
Economics is the study of these choices. It helps us understand how individuals, businesses, and governments decide what to do with their limited resources, and how these decisions shape the world around us.

In this first topic, you’ll learn:

The definition and importance of economics
The difference between microeconomics and macroeconomics
The basic problem of scarcity and the need for choice
The main economic systems used worldwide
The special role of business economics in today’s digital age
By the end of this module, you’ll not only understand the fundamentals—you’ll see how these concepts connect to your studies, your business, and even your everyday life. So, let’s step into the story of economics together!