Q.List the main branches that fall under the scope of economics.

The scope of economics is traditionally organised around the stages an economy's resources pass through. …

The traditional subject matter of economics is organised into five closely interlinked branches, each covering one stage of how an economy handles its scarce resources. Consumption studies how goods and services are used to satisfy human wants. Production studies how goods and services are created by combining the factors of production — land, labour, capital and entrepreneurship. Exchange studies how, once produced, goods and services are bought, sold and traded through markets, prices and money. Distribution studies how the income generated from production — rent, wages, interest and profit — is shared among the owners of the different factors of production. Public finance studies the income and expenditure of the government, including taxation, public spending, borrowing and the government budget. Beyond these five …