The subject Economics is mainly a part of social science which students are facilitated to study and learn regarding the most favorable utilization of goods and services by realizing the commercial worth which such goods and services fabricate. The subject is all about the bargaining from both parties: buyer as well as seller side. The subject Economics mainly manages or copes up with the processes and problems regarding the production, consumption and distribution of goods and services in an economy. It furthermore deals with and addresses the apprehensions which administer the management of a market or economic system overall. The subject is usually sub-divided into two sections: microeconomics and macroeconomics. Microeconomics generally states the behavior and activities of individual agents mostly firms and small level businesses. On the other hand Macroeconomics is related to the whole economy or global economy which fundamentally signifies making economic strategies at universal level. There is another division of economics are also very famous which comprise positive economics which contain ‘What is’ and normative economics explaining ‘what ought to be the idyllic situation’.
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