A Brief
Introduction To Economics
“Economics is the branch of knowledge
concerned with the production, consumption, and transfer of wealth.” It
describes everything we humans do and studying how people and markets interact
can explain why people and governments act in certain ways.
Economics
can be subdivided into two categories- Macroeconomics and Microeconomics.
Macroeconomics
deals with the analyzing of the economic output of the entire countries, their
position in the international marketplace and how they allocate their limited
resources to maximum production and boost up the growth for the future
generation.
Microeconomics
concentrates on issues such as how families reach decisions about what to buy
and how much to save. It examines how these decisions affect the supply and
demand for goods and services.
Dive Into
The Field Of Intellect
Managerial
Economics- It focuses on the application of the economic concepts, theories,
tools and processes to solve practical problems in a business. This science has
emerged only recently, as business managers have become increasingly concerned
with finding rational and ways of adjusting to an exploiting environmental
change. It focuses more on the method of reasoning.
Managerial
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Economic
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