What Is Economics?

Economics is a social science that studies how people, acting on their own and in groups, decide to use scarce resources to satisfy their needs and wants. 

Our economy has a major influence on our lives. It affects where and how we live, and in some ways how long we live. Now more than ever, with our economy in flux, it's important to understand the economic system that makes our country run and how it affects our quality of life. 

This site will help you understand the U.S. economy and how a crisis affects fundamental principles, including: 

• • Supply and demand

  • Consumer demand

  • Business competition

  • Government intervention 

  • Financial markets

The content is based on JA Economics®, a powerful economics textbook from Junior Achievement. JA has 100 years of knowledge and experience teaching financial literacy and has trained generations for career success and entrepreneurship. Learn more about Junior Achievement here.

Knowledge Is Power

As consumers, we constantly make choices regarding our three valuable resources—time, talent, and treasure—without even realizing that they affect our personal economics. Today's choices will influence our future—even, or perhaps especially, in a time of crisis. 

Thank You

Junior Achievement would like to offer our sincere gratitude to Tawni Hunt Ferrarini, PhD, the Plaster Professor of Economic Education at Lindenwood University’s Hammond Institute, St. Louis, MO, whose guidance and expertise in economics was invaluable in the development of this program.  

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