Discover four key economic concepts: scarcity, supply and demand, costs and benefits, and incentives. Learn how they affect consumer choices and financial decisions.

Positive economics is a fact-based analysis of what is occurring in an economy, without making prescriptions of what should or should not be happening.

It has been especially difficult to get a read on the current state of this economy, ever since the government shutdown started last week and agencies in Washington stopped delivering economic data.

With his move to impose new global tariffs, US President Donald Trump isn’t just trying to repair a trade policy dismantled by a Supreme Court rebuke. He’s also declaring the world’s largest economy ...

One possible reason for these differences is that distinct disciplines are trained to notice different things. Like photographers, we tend to focus on what our field puts in the frame. Economists ...

The Trump administration has, at least temporarily, rescinded its threats to impose tariffs on European allies in response to their support for Greenland. But since this issue may arise again, it is ...

Regarding “Notable & Quotable: Thomas Sowell on Tariffs” (April 4): Thanks to the Journal for reprinting the thoughts of a national treasure. Here is another gem from his book “Basic Economics” (2000) ...