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Economics is a subject that studies about different variables that prevails in the economy both at macro as well as micro level. At micro level it deals with individual variables like consumer or producer and how they influence the market.

science which studies human behaviour as a relationship between ends and scarce means which have. alternative uses. This means that economics is a human science. It involves maximizing satisfaction. from scarce resource and the means available for satisfying these ends (wants) are scarce or limited in.

In this manner, at present, subject matter of Economics can be newly divided into two parts, as – (1) Price of Micro Economics, and; (2) Income and Employment Theory and Macro Economics. These two principles play an important role in the study of economic activities.

It focuses on the determination of the aggregate measures, like aggregate demand, aggregate supply and overall price level and how they change over time. It is also known as the Theory of Income and Employment as its main focus is on how income and employment levels are determined.

What Are the 4 Main Topics in Development Economics? The topics, or types of development economics include mercantilism, economic nationalism, linear stages of growth model, and structural-change theory.

1 of or relating to an economy, economics, or finance.

Economics is the study of how scarce resources must be used efficiently in order to satisy unlimited wants of individuals. Traditionally, the subject-matter of economics has been studied under two branches i.e., (i) Microeconomics: This branch of economics studies the problems of individual units of an economy.

Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.