Economics is the social science that studies the production, distribution, and consumption of goods and services. It analyzes how individuals, businesses, governments, and societies make choices regarding scarce resources. Economics is divided into two main branches: microeconomics, which focuses on the behaviors of individuals and firms in making decisions regarding the allocation of limited resources; and macroeconomics, which examines the economy as a whole, including overall production, unemployment, inflation, and economic growth. Economists use various theories, models, and empirical data to understand economic behavior and to develop policies aimed at improving economic efficiency and equity.
The minimum wage in Spain will increase by 4.4% to €1,184 per month starting in 2025. This raise aims to combat inequality and working poverty, building on a 61% increase…