Economics has been one of my favourite subject as it is practical oriented subject and real life scenarios. Economics is very interesting to study as it shows us the way consumer,demand,supply work all together. Economics is the backbone of any country. We should know about it or study . Also it is very much necessary for a manager to study the economic conditions of a market to minimize cost and maximise profits.
In our economics class,we got to learn many news things like writing blogs on economic terms or concepts relating to day to day life scenario,we made us understand the concepts very easily. Also we played Simulation games, where we had to sell our goods ,also see the market competition and to fix the price accordingly which was very interesting and fun .
At end I would say that I learnt many things from economic classes.
Economics when applied to real life sounds beautiful. this blog is for those students who are discovering the different facets of economics applications and want to share their discoveries.
Saturday, September 29, 2018
Journey of Economics
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IMPACT OF SOCIETY /SOCIAL GROUPS ON PURCHASE INTENTIONS OF HOME BUYING- Consumers are the most important factor that will make any bus...
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Supply in elastic:if the supply is difficult to replace the product by a substitute goods then that is known as supply-in-elastic. Example...
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MARKET STRUCTURE: there are different market structures that can be characterized to an economy, without market structure any company ca...
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If the supply is easy to replace by multiple suppliers then it’s known as supply elasticity. Any unskilled worker is an example of supply e...
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