Economics is said to be positive when it tries to objectively predict and explain consequences of choices, given a set of assumptions An assumption is a proposition that is assumed, i.e., treated within the context of a discussion as if it were known to be true or false.
Economics, which focuses on measurable variables, is broadly divided into two main branches: microeconomics Microeconomics is the study of the economic behaviour of individual consumers, firms, and industries and the distribution of production and income among them.
The term economics was coined around 1870 and popularized by influential "neoclassical" economists such as Alfred Marshall (Welfare definition), as a substitute for the earlier term political economy, which referred to "the economy of polities" – competing states.
Economic Research Service (ERS), USDA is the official information source for agricultural economics and other social science information and analysis for public and private decisions on agriculture, food, natural resources, and rural America.
Economics and StatisticsAdministration (ESA) has three primary missions: 1) maintain the highest quality Federal statistical system, 2) communicate a vision of the key forces at work in the economy, and 3) support the information and analytical needs of the Department and the Executive Branch.
Economic Indicators.gov, a product of ESA, is a one stop source for official releases of all new and revised data published by the Bureau of Economic Analysis and the U.S. Census Bureau.
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