Economics is a social science that studies the production, distribution, and consumption of goods and services. It examines how individuals, businesses, governments, and societies make choices about allocating limited resources to satisfy their needs and desires. Economics is generally divided into two main branches: microeconomics, which focuses on the behavior and decision-making of individual entities, such as households and firms, and macroeconomics, which analyzes overall economic phenomena, including inflation, unemployment, and economic growth at a national or global level. Economic theories and models are used to understand and predict economic behaviors, helping to inform policy-making and personal financial decisions.
Friedrich Merz is favored to become Germany's next Chancellor in the 2025 Bundestag election. The Economic Ministry is a focal point, with key candidates including Carsten Linnemann, Jens Spahn, and…