Economics is the basically the study of how supply and demand impact scarce product and services. It is also the study of how countries are performing. |
There are 2 components of economics - macro and micro. Macro tends to look at the big picture or basically how companies are doing, consumers are spending as well as government spending. Micro economics looks at the specifics such as inflation, unemployment and industrial production.
In finance or trading, economics is referred to as fundamentals and the study of economic data is known as fundamental analysis.
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