Hello, everybody! My name is John Cordero and this is my economics blog. Here I talk about what the economy is, what it is like, how it affects business and much more.

Economics as a system of relations on the use of resources in economic activity dates back to the distant past. Its explanation can be found in the merchant’s initial commodity science, the essence of which was to describe the goods and calculate the financial results from the economic activity of an individual entrepreneur.

The main economic problem is the scarcity of resources and the resulting problem of the need to choose.

The main function (purpose) of the economy is to create products necessary for the life of society. In this case, two types of economic goods are produced:
a) consumption items and b) means of production (conditions of creative activity).

The main tasks of modern economic science are to describe, analyze and explain the dynamics of economic processes occurring in production, distribution of the produced product and its consumption. The conclusions of economic science are necessary to establish the economic behavior of society.

Economic theory is a complex system of sciences. There are various options for classifying economic sciences. The most common among them is the one according to which economic sciences are divided into general, special and sectoral.