Economy, asked by msanudeep4468, 1 year ago

What is meant by Economics?

Answers

Answered by aqibkincsem
2
Economics refer to the study and production and the consumption of goods and commodities.

Economics help us understand how the people interact within the market when they would want to achieve a certain goal.

There are mainly two kinds of economics - microeconomics and macro economics.

Micro economics refer to the actions of the individual and the industries for example the dynamics between the buyers and the sellers , the borrowers and the lenders.

Macro economics however looks at the economics at a larger scale for example calculating the gross domestic product.
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