Economics is the social science that studies how individuals, businesses, governments, and societies allocate scarce resources to satisfy their unlimited wants and needs. It examines the production, distribution, and consumption of goods and services and analyzes the behavior of economic agents and the interactions among them. The field is broadly divided into two main branches: microeconomics, which focuses on individual and firm-level economic decisions, and macroeconomics, which looks at the economy as a whole, including issues like inflation, unemployment, and economic growth. Economics employs various models and theories to understand and predict economic behavior and interactions, and it influences policy-making and decision-making processes in various sectors.
The commercial real estate market is heading for a crisis with significant implications for market trends and the Federal Reserve's rate path outlook. As the pandemic continues to wreak havoc…