No one is unaffected by Economics. Whether we understand its forces or not, we have to cope with its effects. What is it? Essentially, Economics is the study of the allocation of and consumption of scarce resources, such as land, labour and capital. It provides the answers to questions to:

• Can pollution be effectively controlled?
• Why does the average premier league player earn in a fortnight what a nurse earns in a year?
• What effect does a fall in house prices have on the UK?