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The economic foundation of voting is the presumption that every decision is based on a calculation of self-interest that weighs the costs and rewards.
Greek farmer and poet Hesiod, who lived in the eighth century B.C., is costs considered one of the earliest economists ever. Hesiod believed that in economic order to overcome scarcity, it was necessary to manage work, resources, and time effectively. The beginning of the current Western contemporary economic ideas may be traced to Adam Smith's 1776 economic publication of An Inquiry Into the Nature and Causes of the Wealth of Nations.
Economics is a social science that examines the decisions that people, businesses, governments, and nations make economic regarding the distribution and consumption of products and services.
Economists examine the distribution of resources between production, distribution, and consumption under the premise that people have costs limitless economic demands in a world with finite resources.
Microeconomics studies the decisions made by people and firms, while macroeconomics studies the overall, aggregate behavior of the economy.
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