Irritable means easy to irritate or bother.. If you have irritable skin, you get a rash from just about anything. An irritable person is not easy-going and often not very easy to be around. You might feel like you're walking on eggshells, or being extra careful not to upset your brother when he's in an irritable mood.
The economic problem. All societies face the economic problem, which is the problem of how to make the best use of limited, or scarce, resources. The economic problem exists because, although the needs and wants of people are endless, the resources available to satisfy needs and wants are limited. Resources are limited in two essential ways:
Economics is a discipline that can help us answer these questions. Economics can actually be defined a few different ways: itâs the study of scarcity, the study of how people use resources, or the study of decision-making. Economics often involves topics like wealth, finance, recessions, and banking, leading to the misconception that economics is all about money and the stock market. Actually, itâs a much broader discipline that helps us understand historical trends, interpret todayâs headlines, and make predictions for coming decades.