What Is Economics?

Economics is the social science that play very important role in production, distribution, and consumption of goods and services. Economics is science which tells us how to survive and fulfill our desires with limited resources.Its reality that always desires more than resources and income but Economics guide us how to handle this tricky situation.

Economics is interesting field of earning and spending of money on different desires upon their preferences. Golden Rule:Plan before spending,Earn before planning to spend, Think different ways to earn more money with less resources. Types of Economics: 1.Microeconomics 2.Macroeconomics 3.International Economics

Economics has very important role in our society.We start our first journey in this world by applying economics.How ?when new baby came in this lovely but immortal world he or she needs cloths,food and toys. Earth revolves around the sun,exactly same our all desires and our life needs revolve around economics. Economics mean n general language Money,funds,resources which fulfil our unlimited desires. we fulfil our desires but not finish forever. There is difference between desire and need. Need we can not live without that like water, food and air but we can survive without desires like good job, nice house, excellent living slander etc

1.Microeconomics:Microeconomics deals with economics decisions made at a low, or micro level and decisions made by individual and groups. Microeconomics covers day to day and individual activity behaviour like price,demand,supply,consumer behavior,utility,etc

2.Macroeconomics:covers aggregate demand ,Aggregate supply, Fiscal policy, Monetary policy, Per ca pita income,GDP growth,etc