Economics is a social science that examine how organizations, individuals and households deal with their resources. It helps to understand the process of production, distribution and consumption of goods and services. Branches of economics are microeconomics and macroeconomics. 
Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction, studying it often reveals why people and governments behave in particular ways.