This webpage is for those who want to discover art of economics and for those who want to know what is going on in the World.
We live in very difficoult times, when our existence consist of constant changes. Do you want to know when to sell stocks, what type of industries should you invest in, or maybe you want me to tell you how to become a millionare? Well, I won't answer those questions but in this webpage you will find out whan an economy is and I will show you general trends in the world, so it will be up to you, how you will use this knowledge.So the question is: what is economy?
Economics is the social science that studies the behavior of individuals, households, and organizations (called economic actors, players, or agents), when they manage or use scarce resources, which have alternative uses, to achieve desired ends. Agents are assumed to act rationally, have multiple desirable ends in sight, limited resources to obtain these ends, a set of stable preferences, a definite overall guiding objective,
and the capability of making a choice. There exists an economic problem, subject to study by economic science, when a decision (choice) is made by one or more resource-controlling players to attain the best possible outcome under bounded rational conditions. In other words, resource-controlling agents maximize value subject to the constraints imposed by the information the agents have, their cognitive limitations, and the finite amount of time they have to make and execute a decision. Economic science centers on the activities of the economic agents that comprise society. They are the focus of economic analysis.