Economía is the Spanish word for economics, which is the social science that studies how individuals, businesses, governments, and nations allocate resources and make decisions to satisfy their needs and wants. This field of study analyzes production, consumption, and distribution of goods and services, as well as the behavior of markets, individuals, and institutions in the economy. Economists use various theories, models, and techniques to understand and predict economic trends, inform policy decisions, and promote economic growth and development.