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About Economics

►Economics can actually be defined a few different ways: it’s the study of scarcity, the study of how people use resources, or the study of decision-making. Economics often involves topics like wealth, finance, recessions, and banking, leading to the misconception that economics is all about money and the stock market. Actually, it’s a much broader discipline that helps us understand historical trends, interpret today’s headlines, and make predictions for coming decades.☆

►One of the central tenets of economics is that people want certain things and will change their behavior to get those things – in other words, people will respond to incentives. ☆

►Economic study ranges from the very small to the very large. The study of choices by individuals (like how someone decides to budget their paycheck each month) is called microeconomics. ☆

►The study of governments, industries, central banking, and the boom and bust of the business cycle is called macroeconomics. ☆

►Much of economics involves using data gathered by governments, businesses, or in the laboratory to test hypotheses about whether a certain program, event, or incentive will have the expected effect. Another branch of economics focuses on using economic theory to make predictions about how people and markets will behave.☆

►❰This App of Economics gives detailed information on Economic Development. This app contains all the basic to advanced concepts on Economics.❱❱

【Few Topics covered in this App are Listed Below】

⇢ What is Economics?

⇢ The nature of economics

⇢ The study of economics

⇢ The methods used by economists

⇢ Economic exchange

⇢ Factors of production

⇢ Types of production

⇢ The role of money in exchange

⇢ The economic problem

⇢ Choice and opportunity cost

⇢ Samuelson's three questions

⇢ Production possibility frontiers

⇢ Interpreting PPFs

⇢ Pareto efficiency

⇢ Increasing opportunity cost

⇢ Marginal analysis

⇢ Index numbers

⇢ Missing markets

⇢ Pure public goods

⇢ Incomplete markets

⇢ Quasi public goods

⇢ Turnpikes

⇢ Merit goods

⇢ The supply of merit goods

⇢ Merit goods and positive consumption externalities

⇢ Education as a merit good

⇢ Property rights

⇢ Economic exchange

⇢ Scarcity

⇢ Efficiency

⇢ Economic Systems

⇢ Cost-Benefit Analysis

⇢ Property Rights

⇢ Wellbeing and Welfare

⇢ Incentives

⇢ Inflation


⇢ Economic Growth

⇢ Exchange and Trade

⇢ Demand

⇢ Supply

⇢ Aggregate Supply

⇢ Aggregate Demand

⇢ Business Cycles

⇢ Employment and Unemployment

⇢ Insurance

⇢ Barriers to Trade

⇢ Balance of Trade and Balance of Payments

⇢ Money

⇢ Foreign Currency Markets and Exchange Rates

⇢ Financial Markets

⇢ Saving and Investing

⇢ Human Capital

⇢ Globalization, Interdependence, and Local Trade

⇢ Productive Resources

⇢ Environmentalism

⇢ Productivity

⇢ Economic Development

⇢ Income Distribution

⇢ Profit

⇢ Income Inequality

⇢ Fiscal Policy

⇢ Roles of Government

⇢ Credit

⇢ Market Failures, Public Goods, and Externalities

⇢ Government Failures, Rent Seeking, and Public Choice

⇢ Government Budget Deficits and Government Debt

⇢ Compound Interest

⇢ Entrepreneurs

⇢ Producers

⇢ Consumers

⇢ Technology

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Thank you
International Esperanto language
Good knowledgeable
Dr.Dharamvir Singh Mahor
This app is good
Very usefull to CEC students. Thanks from bottom of the heart.
Ysn Murthy
Alain Giresse Mbenatheu Tetam
Toooo best book
Bushan Singh