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Economics is a term that is described by Adam Smith as the study of the wealth of a nation. This is the subject that exists as political economics. Economics is further known as the social science from is derived from Greek word known as “oikonomia” where oikos mean house and nomos mean custom.
It is a vast subject and requires broader understanding of different concepts related to the subject. Having an in-depth understanding will give you the ability to handle practical problems. Alfred Marshall has defined economics as the study of a man in simple business of life.
When you get the economics help for students online, it is quite possible to learn about the two different areas of study related to this subject.
It is the area of study that includes understanding the behavior of a business firm. The area actually deals with examining of market behavior of individual consumer or firm to under the decision making process. Through microeconomics it is possible to know the process of interaction with sellers and buyers and also gain knowledge on various elements which can stimulate choices.
It is an area that emphasizes on the broader aspect of economics and determines decision making process. The subject deals with the national and global economy. The area help us understand the supply of goods and services, GDP, inflation, price discrimination etc. In this category we can study the economic growth.
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