Economics is the social science that seeks to describe the factors which determine the production, distribution and consumption of goods and services. Broadly, Economics is a study of man in the ordinary business of life i.e. It inquires how man gets his income and how he uses it.

The two main categories of economics are Microeconomics and Macroeconomics. 

Microeconomics examines the behavior of basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. 

Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resources (labor, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies).

Featured Business and Economics Calculators

• Microeconomics Calculator: 17 functions related microeconomics including demand, price, income, profit, surplus and elasticity.
• Macroeconomics Calculator: 24 functions related to macroeconomics including GDP, Inflation, Surplus, Producer, Consumer, Imports, Exports, Currency, Domestic and International.
• Hospitality Industry Calculator: 67 functions related to hotels, food services, restaurants, cost, labor, pricing, turnover, occupancy, sales, ADR, GOP-PAR, forecast, margins and more.
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• Herfindahl-Hirschman Index: Computes an index on market concentration.