EKS-20
2-topshiriq
Economics – as I see it.
Economics is the study of scarcity and its effects on the use of resources, the
production of goods and services, the growth of production and well-being over
time, and many other complex issues of vital importance to society. Economics is a
social science related to many other fields such as political science, geography,
mathematics, sociology, psychology, engineering, law, medicine and business. The
central research of economics is to determine the most logical and efficient use of
resources to achieve personal and social goals. Moreover, the economy is a process
that includes all events in society.
The economy is divided into microeconomics and macroeconomics according to
the level of coverage. We will provide information about them below.
Microeconomics is the business entities that have a small economy are small
business economies. Microeconomics studies the economy of these entities.
Macroeconomics is a collection of microeconomics. It is the economy of all
countries.
Macroeconomics studies how the economy behaves, including changes in inflation,
price levels, growth rates, national income, gross domestic product, and
employment levels.