Economic affairs refer to the management and study of resources, production, and consumption within a society. This includes how goods and services are created, distributed, and utilized, impacting overall wealth and living standards. Economic policies, such as taxation and government spending, play a crucial role in shaping these affairs. Governments and organizations analyze economic data to make informed decisions that affect employment, inflation, and trade. Key concepts in economic affairs include supply and demand, market structures, and economic growth. Understanding these elements helps policymakers create strategies to improve the economy and address issues like poverty and inequality.