The Beginnings of Economics

Economy or economics is a part of social science which discuss about the product and credit production, supply, Exchange, distribution and also sufferance and consumer behavior. Resources limited but demand unlimited- knowing this main thing economics ambition is use resources with consciousness. Economy is also known as economics .The word economics originating by Greek word OIKONOMIA which is mean housekeeper leadership. {Al robins} that’s following definition is applicable for mostly modern economy. He said ‘’ Economics is discuss about peoples poverty and also another limited usable product ’’ If we analysis Al Robins definition we can see that’s is about human life is based on three basic thing and those are infinite lack, limited product and substitute usable product. Economy has circumference different parts

For example

  • Micro economics and macro economics
  • Positive economics and paranoid economics
  • Mainstrim and Haterdosk economics.

Modern economics divided two things and those are

  1. Micro economics
  2. Macroeconomics

Micro economics is mainly discuss about person and business demand besides macroeconomics is discuss about a country national income about economics. In other words, the goal of the micro economy is to analyses a particular part of the economy or to analyze the individual from the perspective of the macro economy and analyze the overall issues of the macro economy.

beginnings of economics

  1. MICRO ECONOMICS

Micro economics is mainly analysis about person and farm act, and also relation between market and also official rules. Micro economics is known as economics which is discuss for how can  person ,family ,farm taking decision for divided limited product.in this discuss we can define market as products or services which is trading. Products or services demand and supply how can react with decision and behavior that’s thing checking micro economics .a product is also present in market .that’s logic every production buyer consider overall demand .the market balance depend on the price and demand. The market framework block because of perfect competition and exclusive market behavior. When getting normal inferred agreement analysis and also unchanged market behavior then it’s called partial symmetry analysis. According to normal symmetry, activity and interconnect also depends various market change and entire market change and also symmetry opposite.

  1. MACRO ECONOMICS

Macroeconomics have to analysis in overall regulators. The word overall can be define as national income, national production, unemployment rate, investment expenses and also inflation. It’s also specialism by monetary policy and revenue policy. In 1960 macroeconomics has done many development for example model of different macro sectors. Consumer reason, proper use of market information and also incomplete competition. There is also a long term about macroeconomics outlook on the components under consideration and also an analysis of the national income growth within a country and country. Among the inputs, capital technology and population growth are significant.

OTHER FACTORS RELATED TO THE ECONOMY, OTHER DIFFERENCES AND CATEGORIES

In the recent development related to the micro economy, two branches were included in the name of economic economics and experimental economics .it is also included in other branches of social science like as economic geography ,economic history ,general preferences, cultural economy and institutional economic.in other words economics can be divided in two ways. The paradigmatic economy explains the economic behavior, on the other hand, promotes positive economics preference and pricing .Economics can be divided into two types of economy: mainstay economy and hatred economy .In the jell classification codes article published in journal of Economic literature, the category of economics and articles discussed voices and The New Palgrave: A Dictionary of Economics’ book mentions the different classes and sub categories of economic.

AGRICULTURAL ECONOMICS

Agricultural economy is the oldest and most well established branch of the economy. It deals with agricultural forces influencing in agriculture and the agricultural sector influencing the rest of the economy. It is an important part of the economy that highlights the need for Micro economics in the real world of the complex world and gives much importance to the general appeal, the relationship between property rights and availability.

DEVELOPMENT AND GROWTH ECONOMY

Growth economy discussed the factors of economic growth .The economic growth is the amount of increase in the precipitate production of a country during a long period of time .One type of unit is used to differentiate between the precipitate products of different countries. Most productions include the rate of investment, population growth and technological change. Development economics at certain levels analyze the economic instruments in front of structural changes, poverty and economic progress in the development process. The development economy utilizes corporate and political elements.

Thanks
Cameron
Yale University, Economics

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