Basic Economics

The social science that deals with the study of the production, distribution, and consumption of goods and services is known as economics. It observes the behavior and interactions of economic agents and the working of economies. Economics is broadly divided into two parts, microeconomics and macroeconomics. Microeconomics deals with the basic elements in the economy such as markets and individual agents like households, firms, sellers, etc. It also deals with the interactions between them and the outcomes of their interactions. Macroeconomics is involved in the study of the entire economy that consists aggregated production, consumption, saving and investment. It also deals with the issues affecting the economies such as unemployment of resources, inflation, economic growth and the public policies, which deal with these issues. This textbook provides comprehensive insights into the field of economics. Some of the diverse topics covered in this book address the varied branches that fall under this category. It will serve as a valuable source of reference for those interested in this field.