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Different between Microeconomics and Macroeconomics

Microeconomics Microeconomics is the social science that studies individual actions of human and businesses. Specially, it studies consumer behavior and how they affect the utilization and distribution of scare resources. Briefly, it studies about human choices and individual markets. In addition to that, microeconomics focuses on the demand and supply that decide price levels of […]

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What is Economics?

What is economics? Basically, economics is subject that is used to study the production, exchange and consumption of the goods and services.  On the other words, this is a study of the usage of resources. Adam Smith defines Economics as, “An inquiry into the nature and causes of the wealth of nations” Scarcity This is […]

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