ECONOMICS
Economics
It is the study of how the forces of supply and demand allocate scarce resources. Subdivided into microeconomics, which examines the behavior of firms, consumers and the role of government; and macroeconomics, which looks at inflation, unemployment, industrial production, and the role of government.
Microeconomics
It is the study of the behavior of small economic units or specific subgroup such as that of individual consumers or households.
Macroeconomics
It is the study of the behavior of an economy at the aggregate level, as opposed to the level of a specific subgroup…
