Basic Economics - E-book - ePub

Economics is an important branch of studies that deal with therules, principles, and laws governing the economy of a nationand different parts of the world. Economics is the study andan analysis of how individuals, businesses and populations usemoney or other resources in order to produce wealth. It isimportant to understand the concepts and basic of economicsfor state, federal and local government and even for companiesthat are affected by them.
Business professionals and economicsprofessionals must know the exact working of economics to beable to advise companies and clients in businesses and thestudents in an academic setting. Economic growth may be defined as an increase in economycapacity to manufacture goods and services within a givenperiod of time. In simple terms, economic growth suggests anylong term expansion of growth and productive potential of aneconomy and its ability to satisfy the demands and wants ofthe natives.
Sustained economic growth has a great impact onthe nation's national income and also on the level ofemployment.