THINK ABOUT ECONOMICS...!!!

  Hello friends,this is my first blog and am intrested to sharing my knowledge about some basic terms of economics.I will start my blog which is my first by introduction of economics.

introduction

before starting with the introduction of economics we should must known about economy because economics is situated in the economy ." Economy is a system by which people of an area earn their living"and "ECONOMICS ","Economics is the subject matter that deals with the rational management of limited resources (in relation to unlimited wants) in such a manner so that an individual as well as economy gains are maximised.  

ECONOMICS ARE BROADLY CLASSIFIED INTO TO CATEGORIES :

1. Microeconomics 

2. Macroeconomics                                           

so, lets firstly talk about Microeconomics "Microeconomics is a branch of economics that deals with the economics behaviour of an individual or a group individuals". Its main subject area is product pricing or factor pricing and it is also known as "price theory".Such elements of this are production possibility curve and elasticity of demands. 

                                                                                                 And our last term is Macroeconomics"Macroeconomics is a branch of economics that deals with the economics behaviour of an aggregate or economy as a whole. Its main subject area is to determine national income or aggregate outp//ut.It is also known as "income theory.Such elements of this are gross domestic product(GDP)and national income. 

THANKYOU