" is all social science to help you open your eyes towards distribution, consumption of goods, production and services "
The IMPORTANT of Economics
The IMPORTANT of Economics
•Consumers - Consumers are always in search of maximization of satisfactions. It is Economics which provides basic principles to maximize satisfaction.
•Producers - The ultimate objective of a producer is to maximize profit in case of profit and minimize loss in case of loss. It is the study of Economics which provides guideline to hit the target.
•Government - Planning and development strategies, budget, monetary policy, fiscal policy etc. are major concerns of the government. Government depends heavily upon economists for policy decision - making.
•Rulers - Economic tactics are the most effective tactics to win the favour of masses. Hence it is must for a successful ruler to have the awareness of at least basic knowledge of Economics.
•Labour - Labourer enriched with the knowledge of Economics can realize their role and importance to the employer in production process. Hence Economics enables them to enjoy higher wages.
Categories:
Economics
