The "Principles of Economics" refers to the foundational concepts that explain how economies function. These principles cover topics such as supply and demand, which describe how the availability of goods and services affects their prices. They also explore the role of consumers and producers in making economic decisions, helping to understand market dynamics. Additionally, the principles address concepts like opportunity cost, which highlights the trade-offs involved in choosing one option over another. Understanding these basic ideas is essential for analyzing economic behavior and making informed decisions in both personal finance and broader economic policies, such as those implemented by government and central banks.