ECONOMICS is

how much you earn.

Each and every choice is a trade-off between what you choose and the next best option.

This is the study of those choices, and how they can be influenced.

/ˌekəˈnämiks,ˌēkəˈnämiks/

a social science concerned with the production, distribution, and consumption of goods and services
Definition
Eco
Nomics
oîkos, "house"
némō, "a system of ruleslaws, or knowledge"
Etymology

One thing you already know is that the house always wins.

Graphs like these help economists answer these questions: