Economics is a branch of science that handles the production,
distribution and consumption of goods and services
- Economics is also a study of decision making.
- Economics deals with managing resources, handling money,
creating strategies and so on.
- Economics deals with not only organisations nut also
individuals and givernments.
- Economics is divided on to 2
- Macroeconomics
- Microeconomics
- This division is based on the nature of economics.
- Macroeconomics deals with the aggregate economy
- Microeconomics deals with individual consumers and
business
- The commonly used economics terms are GDP and CPI
- GDP refers to the Gross Domestic Product.
- CPI refers to the Consumer Price Index.
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