We explain what the economy is and what is its object of study. In addition, its importance and the different branches or types of economy.
The Economy (or Economic Sciences ) is a social science whose scope of interest is the ways in which a society organizes itself to meet its material and intangible consumption needs , through a cycle of production, distribution and exchange of goods that ideally perpetuate over time.
The Economy, in other words, is the study of the modes of organization and distribution of scarce goods that each society requires and therefore produces or acquires through different strategies, in order to meet the greatest amount of demand from a finite number of tangible or intangible assets.
That said, we could deduce that the Economy tries to understand the processes of production and consumption of any human group, to aspire to an ideal distribution and management of resources. This has allowed him to apply to various areas of study and work with other specific disciplines , such as Law , Administration , business, politics , war , science and a long etcetera.
At the same time, the Economy uses tools and processes from various areas of knowledge, such as psychology , philosophy , history , etc. to help you in your understanding of the economic dynamics of societies. It is a multidisciplinary knowledge that dates back to the time of Classical Antiquity (especially Aristotle).
Economic systems:
The object of specific study of the Economy can be defined around three main axes:
In this way, the Economy is interested in a very wide range of objects of study, ranging from the pricing mechanisms of the goods and services available in a community , the behavior of financial markets and their impact on society, the trade internationally, the intervention of the state in domestic markets, the distribution of income and methods of combating poverty, to theories of growth and economic cycles and their impact on the societies that star.
Economics is a broad and complex discipline, in which numerous types or classifications can be distinguished, such as:
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