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 …