Inflation

Introduction to Macro frugals 1. o Human wants are unlimited tour the resources are scarce. o scotch theory or abbreviation deals with the basic proposition of how human beings or individual economic units be hurl against the problems of scarcity and react to the ob serve upd changes. Economic analysis 2. o Human beings often face problems of scarcity and plectrum o The brass of prime(a) occurs as consumers can satisfy only(prenominal) somewhat of their wants while they have to forgo others. o The freedom of choice gives rise to opportunity cost, which is the next best alternative choice that has been forgone. o Opportunity cost is the real cost of a choice and can be applied not only to consumer choices at the micro level but also friendship choices at the macro level. Economic analysis 3. o Major focalization of economic analysis is on how individual economic units have to make a choice among the limited resources. o Economic analysis establishes reference points that indicate what to look for and how economic issues are interrelated. This enables better understanding of relationships among complex and often unrelated economic events in the actual world. o However, a serious limitation may emanate from the assumptions, which form the basis of these propositions.

Therefore such assumptions must be realistic so as to serve the purpose of understanding economic issues and propositions Economic analysis 4. Session Outline o Classification of economics o Development of macroeconomics o Basic concepts of macroeconomics o Policy instruments o Diagnosing health of the economy o aviator flow of income 5. Classification of Economics o Positive and Normative Economics o Macroeconomics o Microeconomics 6. o Microeconomics deals with the behavior of... If you want to get a full essay, order it on our website: Orderessay

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