Introduction to Economics

Economics is the science that studies human material activity, aiming to address the problem of the proliferation of human needs and the scarcity of resources needed for sustaining them, and how to balance between the means used and the desired results. This book presents most of the important topics that fall within the scope of economics, making the connection between them apparent, and helping the reader understand the characteristics of this science. The first chapter focuses on the study of economics. The second chapter touches on the theory of value, while the third chapter covers production, the concept of the production process, the elements of production, laws governing the production process, the size of the economic project, and the specialization and division of labour it requires. Chapter Four included markets and the equilibrium of the economic project. As for the theory of distribution, it was incorporated in the fifth chapter, which included price determination and the level of employment of production factors. The sixth chapter presented macroeconomics in five sections, the first of which was national income, the second covers money, the third covers banks, and the fourth section covers international trade and the balance of payments. The fifth and final section discusses population and population theory.