LETS LEARN...........


Thursday 5 November 2020

WHY STUDY ECONOMICS

 

  • How to use Scarce resources to produce valuable commodity and distribute among different people

  • Explain wide array of activities like international trade ,employment ,inflation, investment and also controlling pollution. 

  • Provides insight into individual  aggregate behaviour 

  • Improves the living condition Of the people in their everyday life

  • Systematic Framework for analysing researching writing and teaching about a wide array of financial and economic issues 

  • Methodology for understanding and making sense of our Complex environment

  • Advice President Prime Minister and Chief Minister on economic issues

  • Formulating policies for the Reserve Bank

  • Analysing condition for Investment plans Bank Brockerage real estate insurance And also several other  businesses

  • Provide valuable knowledge for taking decisions every day

INTRODUCTION TO ECONOMICS

 


  • Economics is a social science of which studies how The economy of a particular region, a country  or the global economy works.

  • Economics is about making choices in the presence of  scarcity.

  • Even the richest person  on earth  Would have to face scarcity and make choices.

  • Every country in the world  face scarcity, except the degree of it varies 

  • Problem of choice arise because of the scarcity 

  • Economics  is the study of ‘choice problems’ at individual national and International.

WHY STUDY ECONOMICS

  How to use Scarce resources to produce valuable commodity and distribute among different people Explain wide array of activities like inte...