Economics is the study of how we deal with the problem of scarcity in a world of infinite human wants. It is the study of the choices that we make, given this problem. It is a modern and dynamic subject which looks at current economic issues. 

Despite being a theoretical subject, we are constantly looking at how we put this theory into practice, thereby looking at issues such as government policy, trade relationships and business decisions. Economics is a constantly changing subject, so an interest in current affairs is vital. While Economics does not examine specific businesses, it does look at the markets in which businesses operate and what their role is in producing goods and services to solve the economic problem.