Economics [1] is a science that studies all kinds of economic activities, corresponding economic relations and their operation and development laws of human society at various stages of development. Among them, economic activities are closely related to people's production, exchange, distribution and consumption under the premise of certain economic relations. In economic activities, there is a problem of getting more benefits with less consumption. Economic relationship is the mutual relationship formed by people in economic activities. Among all kinds of economic relations, the production relationship is the dominant one.

General scholars will divide the research scope into "micro" or "macro" levels. Microeconomics studies the decision-making between individuals or between individuals and other individuals, including the consumption of economic goods, the input of scarce resources in the production process, the allocation of resources, the choice of distribution mechanism and so on. "Macroeconomics" takes the regional and national level as the research object, and the common analysis includes income and production, currency, price, employment, international trade and other issues. Based on macro analysis, it is only micro-level integration. Some economists think this classification has no academic value, but most schools still use it.

In general, economic theory is based on the assumption of "maximization" of rationality, and everyone will make the most favorable choice for himself under limited conditions. In economic theory, it doesn't matter whether the hypothesis is true or not. As long as the inferred meaning can be verified and the real world can be explained and speculated, we will accept this theory. But the theory of Austrian economics is based on the axiom of action, that is, people have a purpose. Its school clearly opposes taking rational state and maximization as the logical premise of economics.

Any theory with explanatory power is bound to be overthrown by facts, but facts have not overthrown it. We can never prove a theory, because the next event will always have a chance to overthrow it.