The social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems. The term economics comes from the Ancient Greek oikonomia, from oikos which means "house" and nomos which means "custom", thus, basically it means "rules of the house (hold)". Economics aspires to explain how economies work and how economic factors interact. Economic analysis is applied throughout the society, business, finance and government, but also in education, family, health, crime, law, politics, religion, social institutions, war and science. The booming field of economics in the social sciences has been described as economic ideology. Common differentiation are drawn between various dimensions of economics such distinctions are microeconomics, which examines the behavior of basic elements in the economy, including individual markets and factors such as consumers and firms, buyers and sellers. In the meantime, macroeconomics, which addresses issues affecting an entire economy including unemployment, inflation, economic growth, and monetary and fiscal policy. Other distinctions are between positive and normative economics, applied economics, mainstream economics (orthodox) and heterodox economics (radical) and between rational and behavioral economics.
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