This is not the first time I am studying economics, but I never learnt how to link economics with the real world. I only studied the theory part of it but in trimester 1 I learnt how we can relate those concepts with the real world. Firstly, It was a challenge for all of us to come up with economics concepts every week and to see how those concepts are being used in real life. We actually had to scratch our heads to figure out what to write in our blogs. But gradually it became a fun subject. I started enjoying and learning things with time and the concepts became even more clear once i started relating it with real life . Also games like simulation which is still going on, has given a totally new dimension of economics. It was truly a great experience. Looking forward to learn more new things in second trimester.
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.
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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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