eli5 What’s the difference between economics, finance, commerce, and business?

Question

I hear these terms used all the time but I’ve never really known what they specifically mean.

In: 6

Answer 1

Economics : The study of human behavior concerning the production, distribution and consumption of goods and services. Or in simpler terms, how groups of human interact with goods and services

Finance : Management of money

Commerce : trading goods and services

Business : the administration of an organization engaged in commercial, industrial or professional activities. AKA how to run a company.