What are some examples of economic activity?

Some economic activity varies depending on the time of the year. Retail sales surge in the run-up to Christmas, for example. Statisticians adjust economic data to take account of these variations. The forum where existing securities (such as bonds or equity) are traded.

What does economics mean?

Economics, social science that seeks to analyze and describe the production, distribution, and consumption of wealth. Economics was formerly a hobby of gentlemen of leisure, but today there is hardly a government, international agency, or large commercial bank that does not have its own staff of economists.

What is economics based on?

Economics focuses on efficiency in production and exchange. Gross Domestic Product (GDP) and the Consumer Price Index (CPI) are two of the most widely used economic indicators. Assuming humans have unlimited wants within a world of limited means, economists analyze how resources are allocated for production, distribution, and consumption.