Economics is the social science concerned with the production, distribution, exchange, and consumption of goods and services in the context of human society. Modern economics focuses on how individuals, groups, business enterprises, and government institutions interact and participate in economic activities. Two major sub-fields of economics are microeconomics and macroeconomics. Microeconomics deals with the interplay of supply and demand in competitive markets, and economic behavior of individuals and firms. Macroeconomics on the other hand deals with national income, employment, monetary and fiscal policies.