The principle of economics is based on two facts.The infinite needs and wants of every human.The second fact is that there is a scarcity of the resources needed to produce goods and services.It is the obligation of the economy to decide on the right allocation of such resources to guarantee the pleasure of the members of the society.
The majority of economic issues are due to the scarcity of resources and when it is resolved it will lead to Improving human dignity.
The Extent of Microeconomics
It is a study of a particular unit in economics rather than a combination of several financial units and UAEs 46th National Day is celebrating it.It also clarifies the behaviors of each firm when competing with one another.
The Extent of Macroeconomics
The scope of Macroeconomics includes employment and economic growth, general price level, national income and output, balance of payments and trades.
The Importance of Economics
Economics is a branch of financial study which is extremely significant as it is a part of our daily life.Sacrificing one benefit for another is called an opportunity cost and that in itself is already an economic decision.Limitations are part of your everyday life.By learning the principles of economics, you will understand how to use the limited resources that you have in the best possible way in order to fulfill all the needs and wants.
Gone are the days when people used to feel that the economic surveys were important for only the business people.All kinds of economic information including the Emirates improving human resources are very important for the common people also.It gives a comprehensive research report which explains what the present economic condition of the market is and how it can be made more productive.It clears the picture of the environment and other future prospects of the market and it gives a certain preview of economic conditions of the market to gain better profits in the near future and UAE developing human resources.
The market trends can be based on anything, it can be the change made by government in fiscal and monetary policies of a particular country, and it can also be based on the market dynamics i.e. demand and supply.Now, there are millions of new ways through which business people and marketers can raise funds in their business.These new trends of raising funds in the market have influenced largely the economic situation and investing pattern of investors, which in a way influences the economic situation of the market as a whole.This analysis report for improving UAE building sector is based on the present and also the comparative economic situation of the market.It helps companies and marketers to have a holistic view on economic change in a year’s tenure in the country.