Economics as a science of wealth management. It is all about getting maximum output with limited resources, Seeing that future generation can use the scares resources. In which Economics is divided in two parts micro & macro economics .
Microeconomics from Greek prefix mikro- meaning “small” + economics, that studies the behaviour of individuals and firms in decision making. That is relationship between the price and goods , demand and supply of the particular good of firm etc.
Macroeconomic from the Greek prefix makro- meaning “large” + economics, that studies about performance or decision making of the economy as a whole. Which is about GDP, National income, Economic Policies, Money supply or demand of the country etc.
how to relate all the economic terms in practical to the country or individual firm. That is how a country is using the economic policies, what are the factors that can affect the demand and supply of money etc.
It is also about knowing factors that affecting individual firm’s demand or supply of the goods . Relationship of demand and supply to price of the good.
Welcome to our blog where we dive into the world of economics and consumer behavior. We explore the difference between marginal and total utility this shows our decision and satisfaction in a world with limited resources. Define Utility Satisfaction drawn by the consumer from consuming a certain amount of good Read more…
The business cycle is also known as the economic cycle, Well it is used to understand the rise and fall of the economy of the countries. Where there are phases to show the position of the country. let’s dive deep to understand what is a business cycle is and its Read more…
For the past few months, we have been seeing everywhere on tv, in newspapers, and even on social media about the new farmer bill 2020 in India. So I have done some research on this issue. Which is currently facing by the farmers. Is it really harmful to farmers? let’s Read more…
The NAFTA stands for the North American Free Trade Agreement it is one of the biggest trading blocks. Why was NAFTA created? NAFTA is created to eliminate the barriers of import and export between the countries. NAFTA consist of three countries that is Canada, Mexico, and the United States. How Read more…
The one-child policy is started by China. How and why China introduced this policy? How it is good for the economy of the country? Why it is important? Is China’s one-child policy have any negative impact on the economy? China’s one-child policy was part of the birth planning program introduced Read more…
