What is Economics?

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What is Economics?
Economics is all about the studies the production, distribution and consumption of goods and services, also study of decision making.
 As well it is about the choices of goods and services. In everyday, we make choices of goods.
- which course should we pursue?
- how much should we produce the goods for economy?
- which share should  we buy or where can we invest our money?
 Economics helps us yo answer this question.
                      Economics is also a science where we do experiments and observations. To find out the best way of enhancing the production and distribution or decision making.
It help us to taking decision and management process like Prof. Henry fayol who gave14 principles of management.or Scientist Taylor who also gave rules for monetary policy.

Types Of economics-
1.Micro-economics
2.Macro- economics
                       
                    Microeconomics is study about the individual decision about goods and services, allocation of resources of production and consumption, estimation of individual income.
Macroeconomics is study about the whole nation or market decision. Decision about allocation of resources, estimation of income of a country etc.




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