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Economics is the social science dedicated to understanding how individuals, businesses, governments and societies make decisions on allocating resources to satisfy their needs and wants. It examines the production, distribution, exchange and consumption of goods and services, as well as the factors that influence these processes such as supply and demand, competition, market structures, monetary policy, fiscal policy and economic growth. Businesses utilize economic concepts in making decisions related to production, pricing, investment, employment, and international trade. International business involves the application of economic principles to cross-border transactions and includes topics like international trade theory, foreign direct investment, exchange rates and balance of payments. Marketing management applies economics in understanding consumer behavior, demand estimation, market segmentation, pricing strategies, product differentiation and distribution channels. Economic analysis can also aid in understanding macroeconomic trends and their impact on the overall economy, such as inflation, unemployment, fiscal policy, monetary policy and economic growth.