Seedhi bhasha mein economics is a khel of gareeb kamayega kya aur bachaygaa kya. Also, iss khel ke vigyaniko ko economists keh sakte hai.”
1. Economics is a concern of what, how and for whom to produce a particular product or service? In other words, it includes the production, distribution and consumption of goods and services.
2. The person who analyses these things at various societal levels (micro and macro) designates himself as an Economist.
3. Economists Explore 4 Economic Systems: Traditional, Command Market, and Mixed.
4. Technically, economics is a study of 4 (primary) concepts: the scarcity of resources, supply and demand of goods/services, costs and benefits and incentives.
5. Economics studies the behaviour and interactions between those who earn and sell for the purpose of survival and profit. It is also about how and why we make purchasing choices.
6. Why do economists do what they do? Like, isn’t it kind of boring? Well, no! Economists know how societies, governments, businesses, households and individuals allocate their “limited” resources. This optimal allocation, in turn, affects one’s profits and lifestyles (other than societies, institutes and communities).
7. A deeper study of these sciences can even lead to valuable knowledge for taking and making decisions of everyday lives.
8. Adam Smith is known as the father of modern economics.
9. Do you know, The Nobel Prize in Economics is not genuine!
Toh bhaiya zara faltu ke money-making messages se dhyan hatao! Instead, put that time of yours into studying a practical subject: Economics.
This social science course can actually help you incur profits! How? By knowing how to optimally distribute and utilize the resources that are always limited and scarce.
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I believe in hard work and have excellent analytical skills and love to explore and learn new things which is essential for the development of the organisation and myself as an individual and the society at large.