| Economics |
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1.Economics is a social science studying economy.
2.Like the natural sciences, economics attempts to find laws or principles. 3.Economics tries to find laws or principles by building models. 4.The predictions of the of the models from the basis of economic theories. 5.Then the predictions of the models are compared with the of the real world. 6.Economics as a science consists of two disciplines that is of microeconomics and macroeconomics. 7.Microeconomics is the branch of economics that studies individual producers, consumers, or markets. 8.Microeconomics also studies how government activities such as regulations and taxes affect individual markets. 9.Besides microeconomics tries to understand what factors affect the prices, wages and earnings. 10.Macroeconomics is the branch of economics that studies the economy as whole. 11.It tries to understand the picture as whole rather than small parts of it. 12.In particular, it studies the overall values of output, of unemployment and of inflantion. 13.As Bernard Shaw said: Economics is the art to extract maximum of profit from life. 14.The aim of economic activity is not only to get something necessary for life , but become richer, more prosperous, to accumulate wealth. 15. So economics is the science about how to become rich both people and country. 16.Speaking about the economic activity we should say that it is carried out for the gratification of constantly rising requirements of people. 17.According to the modern economic theory there are two kings of human needs: primary (or physiological) and secondary (superior of intellectual). |
