Economics Economy The system through which a society creates and distributes wealth ■ Economics a The study of how wealth(anything of value)is created and distributed ■ Microeconomics The study of the decisions made by individuals and businesses ■ Macroeconomics The study of the national economy and the global economyEconomics ◼ Economy ◼ The system through which a society creates and distributes wealth ◼ Economics ◼ The study of how wealth (anything of value) is created and distributed ◼ Microeconomics ◼ The study of the decisions made by individuals and businesses ◼ Macroeconomics ◼ The study of the national economy and the global economy