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IMPORTANCE OF ECONOMICS BY ECONOMICS ASSIGNMENT HELP MAKING ASSIGNMENTS SIMPLER SINCE " 2010 "
MEANING OF ECONOMICS Economics deals with the ways in which societies and individuals decide to use resources in such a manner that it fulfils their needs and wants. MAKING ASSIGNMENTS SIMPLER SINCE " 2010 "
TWO DIFFERENT BRANCHES OF ECONOMICS ● There are two major branches of economics - Microeconomics and Macroeconomics. Microeconomics deals with individual requirements and wants. ● Whereas, macroeconomics studies economy on a wider level. It deals with the economic situation of a country or the world. MAKING ASSIGNMENTS SIMPLER SINCE " 2010 "
TWO DIFFERENT BRANCHES OF ECONOMICS ● There are two major branches of economics - Microeconomics and Macroeconomics. Microeconomics deals with individual requirements and wants. ● Whereas, macroeconomics studies economy on a wider level. It deals with the economic situation of a country or the world. MAKING ASSIGNMENTS SIMPLER SINCE " 2010 "
CHARACTERISTICS OF ECONOMICS Below are some major characteristics of economics. ● Nominative in nature ● Micro in nature ● Microanalysis ● Pragmatic approach ● Based on theories of private enterprises and market MAKING ASSIGNMENTS SIMPLER SINCE " 2010 "
IMPORTANCE OF ECONOMICS Economics is very important to maintain the financial status of an individual, a business, a country, or the whole world. The importance of economics is noted below. ● It helps in understanding the situation happening in the market. ● It helps in distributing resources. ● It helps in achieving social efficiency. Give predictions about the economy MAKING ASSIGNMENTS SIMPLER SINCE " 2010 "
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