What is Economics?

Economics is the most important social science that deals with production, distribution, and consumption. It is also a condition of a region or the groups that regard material prosperity. Economics also focuses on economic agents’ behavior and interactions and how they work. It is also known as the study of scarcity, which implies using resources and producing goods and services. Also, it has a great variety of other complex issues in society.

Father of Economics

Adam Smith is the father of economics. He was a Scottish philosopher.

Importance of Economics

Economics helps people recognize the world around them. It also helps to lead them to understand people about business, governments, and markets to have better capital and opportunities that help to bring positive change in society.

Branches of Economics

There are two main branches of economics

  1. Macroeconomics
  2. Microeconomics

Types of Economics 

There are five types of economics

  • Mixed economic system.
  • Command economic system.
  • Market economic system.
  • Central economic system.
  • Traditional economic system.

 Examples of Economics

Here are a few examples of economics that are beneficial for everyone in daily life.

  • Opportunity costs

The opportunity that costs directly refers to an individual’s ease or loss while you choose other preferences.

  •  Sunk cost

The business has already suffered this cost that can not be recovered.

  • The war of trade

Every country tries its best to protect the economy, local businesses, and industries so that it can generate new jobs. 

  • Demands and supply

The central part of every business supplies the number of exports, whereas demand is the number of participants convinced to buy the stocks.

 Keys of Economics

There are four primary keys to economics

  • Supply and Demand.
  • Benefits.
  • Incentives.
  • Scarcity/ Dearth.

How is Economics helpful in the study?

Here are some of the reasons that will show how economics is helpful in studies.

  • Economics is the gateway to the future and plays a vital role in everyday life.
  • It helps to boost your career.
  • You can gain an international perspective.
  • You can also develop transferable skills that will help you in every field.

What is the job of an economist?

Economists have to study the production and distribution of goods and check the services by gathering the data and analyzing it. 

Economics | Career growth

If you earn an economics degree, it will open doors that will lead you to a variety of career opportunities. You can start your career by finding jobs in banking, accountancy, data economic analysis, finance consultancy, or even the public sector. 

Test Bank Resources 

With the help of Test Bank Resources, students can quickly get original and accurate test banks that benefit them and the professors equally. These test banks are authentic and include all the questions in your exams. We have only one book available at our test bank.

Conclusion

Economics is a science subject, but it is also considered one of the most important subjects that deal with behavior and interaction with agents and shows how they work. This article was about economics and how it impacts our everyday lives. We hope that this article will be helpful for you in many terms.

Bestsellers in ECONOMICS

Test Bank For Money Banking and Financial Markets 5th Edition Cecchetti

Original price was: $75.00.Current price is: $19.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN10: 1259746747, ISBN13: 9781259746741
Original price was: $75.00.Current price is: $19.00.

Test Bank For The Exploration of Economics International Edition 5th Edition by Robert L. Sexton

Original price was: $55.00.Current price is: $35.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10:0538751894 ISBN-13:9780538751896
Original price was: $55.00.Current price is: $35.00.

Test Bank for The Economy Today Bradley Schiller 15th edition

Original price was: $65.00.Current price is: $28.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-13: 978-1259852022 ISBN-10: 1259852024
Original price was: $65.00.Current price is: $28.00.

The Economics Of Money Banking And Financial Markets 6th Canadian Edition By Mishkin - Test Bank

Original price was: $55.00.Current price is: $30.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 0133897389 ISBN-13: 978-0133897388Publisher ‏ : ‎ Pearson CanadaAUTHORS: Frederic S. Mishkin,Apostolos SerletisEDITION: 6th
Original price was: $55.00.Current price is: $30.00.

Test Bank For The Economy Of Nature 6th Edition By Ricklefs

Original price was: $55.00.Current price is: $18.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-13: 978-0716786979 ISBN-10: 0716786974
Original price was: $55.00.Current price is: $18.00.

Microeconomics 14Th Canadian Edition by Ragan - Test Bank

Original price was: $55.00.Current price is: $35.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 0321794877 ISBN-13: 978-0321794871Publisher ‏ : ‎ Pearson CanadaAuthors: Christopher T.S. RaganEdition: 14th
Original price was: $55.00.Current price is: $35.00.

Test Bank For The Economics Of Money Banking And Financial Markets 6th Canadian Edition By Mishkin

Original price was: $55.00.Current price is: $25.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 0133897389 ISBN-13: 978-0133897388
Original price was: $55.00.Current price is: $25.00.

Showing all 15 results

Sort by

Managerial Economics, 5th Edition Test Bank

Original price was: $55.00.Current price is: $45.00.
(0 Reviews)
Digital item No Waiting Time Instant Download5th Edition Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor Publisher: Cengage Learning ISBN: 9781337106665  
Original price was: $55.00.Current price is: $45.00.

Microeconomics 14Th Canadian Edition by Ragan - Test Bank

Original price was: $55.00.Current price is: $35.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 0321794877 ISBN-13: 978-0321794871Publisher ‏ : ‎ Pearson CanadaAuthors: Christopher T.S. RaganEdition: 14th
Original price was: $55.00.Current price is: $35.00.

Test Bank For Money Banking and Financial Markets 5th Edition Cecchetti

Original price was: $75.00.Current price is: $19.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN10: 1259746747, ISBN13: 9781259746741
Original price was: $75.00.Current price is: $19.00.

Test Bank For Principles and Applications of Economics International Edition 6th Edition by Marc Lieberman

Original price was: $55.00.Current price is: $19.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 1133188265ISBN-13 :‏ 978-1133188261
Original price was: $55.00.Current price is: $19.00.

Test Bank For The Economics Of Money Banking And Financial Markets 6th Canadian Edition By Mishkin

Original price was: $55.00.Current price is: $25.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 0133897389 ISBN-13: 978-0133897388
Original price was: $55.00.Current price is: $25.00.

Test Bank For The Economy Of Nature 6th Edition By Ricklefs

Original price was: $55.00.Current price is: $18.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-13: 978-0716786979 ISBN-10: 0716786974
Original price was: $55.00.Current price is: $18.00.

Test Bank for The Economy Today Bradley Schiller 15th edition

Original price was: $65.00.Current price is: $28.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-13: 978-1259852022 ISBN-10: 1259852024
Original price was: $65.00.Current price is: $28.00.

Test Bank For The Exploration of Economics International Edition 4th Edition by Robert L. Sexton

Original price was: $55.00.Current price is: $35.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 0324544235 ISBN-13: 978-0324544237
Original price was: $55.00.Current price is: $35.00.

Test Bank For The Exploration of Economics International Edition 5th Edition by Robert L. Sexton

Original price was: $55.00.Current price is: $35.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10:0538751894 ISBN-13:9780538751896
Original price was: $55.00.Current price is: $35.00.

Test Bank For The Exploration of Economics International Edition 6th Edition by Robert L. Sexton

Original price was: $86.00.Current price is: $35.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 1111970386 ISBN-13: 978-1111970383
Original price was: $86.00.Current price is: $35.00.

Test Bank For The Macro Economy Today Bradley Schiller 15 Edition

Original price was: $55.00.Current price is: $28.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-13: 978-1260105155 ISBN-10: 1260105156
Original price was: $55.00.Current price is: $28.00.

Test Bank For The U.S. Banking System 3rd Edition

Original price was: $55.00.Current price is: $15.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-13: 978-1285090894 ISBN-10: 1285090896
Original price was: $55.00.Current price is: $15.00.

The Economics Of Money Banking And Financial Markets 6th Canadian Edition By Mishkin - Test Bank

Original price was: $55.00.Current price is: $30.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10: 0133897389 ISBN-13: 978-0133897388Publisher ‏ : ‎ Pearson CanadaAUTHORS: Frederic S. Mishkin,Apostolos SerletisEDITION: 6th
Original price was: $55.00.Current price is: $30.00.

Understanding Economics International Edition 13th Edition by Russell S. Sobel - Test Bank

Original price was: $55.00.Current price is: $20.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadISBN-10 ‏ : ‎ 0538756187ISBN-13 ‏ : ‎ 978-0538756181Publisher ‏ : ‎ South-Western; Internationaled of 13th revised ed edition (21 May 2010)
Original price was: $55.00.Current price is: $20.00.

Understanding Economics International Edition, 14th Edition by Russell S. Sobel - Test Bank

Original price was: $55.00.Current price is: $25.00.
(0 Reviews)
Digital item No Waiting Time Instant DownloadPublisher ‏ : ‎ South-Western College Pub; 14th edition (8 May 2012)Language ‏ : ‎ EnglishPaperback ‏ : ‎ 816 pagesISBN-10 ‏ : ‎ 1111971595ISBN-13 ‏ : ‎ 978-1111971595
Original price was: $55.00.Current price is: $25.00.

 

 

Product has been added to your cart