Economics is the study of how individuals and groups, including companies and governments, make decisions about using limited resources to produce and distribute goods and services in order to best satisfy their needs and wants. Economics uses unique methods to analyze and predict individual behavior based on past decisions and the range of possible courses of action under different circumstances. Most simply stated, Economics is the study of making choices.

An understanding of basic terminology and concepts of economics is a foundation for further study in most business courses. The classes at Yakima Valley Community College are designed to provide introductory-level study for transfer students and to provide business/community members with information that can be used in daily decision making.