Congratulations! You just bought a new home and itâs perfect for your family â just the right size, condition, location and neighborhood to meet your needs. Your new home is part of a homeownersâ association (HOA), so the landscaping and common areas always look beautiful and well-maintained.
Economics is a social science that assesses the relationship between the consumption and production of goods and services in an environment of finite resources. A focus of the subject is how economic agents behave or interact both individually (microeconomics) and in aggregate (macroeconomics).
Definition of social science. 1  1 : a branch of science that deals with the institutions and functioning of human society and with the interpersonal relationships of individuals as members of society. 2  2 : a science (as economics or political science) dealing with a particular phase or aspect of human society.