Economics is the social science that studies how individuals, businesses, governments, and societies manage and allocate scarce resources to meet their needs and desires. It examines the production, distribution, and consumption of goods and services, as well as the behavior and interactions of economic agents. Economics can be broadly divided into two main branches: microeconomics, which focuses on the actions of individuals and specific markets; and macroeconomics, which looks at the economy as a whole, including issues like inflation, unemployment, and economic growth. The discipline employs various models and theories to analyze economic phenomena and inform policy decisions.
The Canadian beef market is currently experiencing remarkable price levels, yet an air of uncertainty hangs over due to potential tariffs from the United States. Despite these looming concerns, many…