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Wednesday, 8 November 2017

ECONOMICS NOTE FOR COMPETITIVE EXAM

Economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. This is also known as an economic system.


The economy encompasses all activity related to production, consumption and trade of goods and services in an area. The economy applies to everyone from individuals to entities such as corporations and governments. The economy of a particular region or country is governed by its culture, laws, history, and geography, among other factors, and it evolves due to necessity. For this reason, no two economies are the same.

DOWNLOAD:- INDIAN ECONOMY BY RAMESH SINGH

The study of the economy and the factors affecting the economy is called economics . The discipline of economics can be broken into two major areas of focus, microeconomics and macroeconomics . Microeconomics studies the behavior of individuals and firms in order to understand why they make the economic decisions they do and how these decisions affect the larger economic system. It focuses on specific industries and markets, rather than on the market as a whole. Macroeconomics, on the other hand, studies the entire economy, focusing on large-scale decisions and issues, including
unemployment and gross domestic product (GDP) . Macroeconomics can be used on a national scale to a global scale.

DOWNLOAD:- ECONOMY OBJECTIVE QUESTIONS WITH ANSWER

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