You can study Economics as a study of the economy of a country as well as the dealings related to the money as well as the cases of bankrupt, trading, market and market values, The sectors of life, including public sector, private sector etc and the respective interests and accounts, all these things can be explained by Economics.
What is Economics
What Is Included In Economics?
Almost all the money related things, related with the production of goods, transfer of wealth and obtaining raw material, making products and importing & exporting them. Economics is related with all the things that are related with the word income as well as expanses. The interaction that people make with the retailers and dealers is also included in economics and the way how government deals with the budget of the country is also included in economics.
The five year plans, the expenditure decided by the government and the budget issued, all are the results of economics only.
There are two main types of economics, namely the Macroeconomics, that features the actions made by the individuals as well as the industries or you may say the buyers and the sellers and Micro economics, that deals with the economic activities of the entire country and the market places where all the countries meet for trading.
Why Do We Need Economics?
Well, if I talk why an individual needs economics, He needs it to make himself able enough to judge the choices that he makes and the expanses that he makes a budget for. Economics is in everything. If you go to the market to purchase a car, It is included in economics, The bargain that you make again economics and the shares that you buy or sell, again economics.
If we talk about the entire economy, Suppose if we talk about the country Like India or any other country, First of all, It will make use of economics to make the evaluation of the available resources, then it will make use of it to divide the share of available resources for each sector and then for deciding a budget for each sector that will be allocated so as to save country from an economic crisis.
Who Are The Economists?
The people with a good knowledge of economics can be regarded as the economists. They serve just like a counselor or you can say that those who study economics are called the economists. These people seek to give you answers about the questions that you make about how people, industries, and countries can maximize their productivity, create wealth, and maintain financial stability and in short help you to overcome all the sort of economic crisis.
If you are a businessman or a person who needs advice to solve any production or money related problem, economists can bring about a perfect solution for you. May companies manage to have their privately hired economists to enhance their productivity and to make a budget to overcome the financial crisis as well as to deal with the bankrupt or other such purposes.