What Are The Basic Tools In Economics?

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Ellie Hoe Profile
Ellie Hoe answered
Economics provide basic know how of demand and supply analysis, market equilibrium , types of markets, monopoly, oligopoly and monopolistic competition, pure competition, pricing strategies, bundling, interest rates etc. Economics itself has two branches micro economics and macro economics. Micro-economics deals with economics at narrower or individual level whereas macroeconomics deal with wider aspect at country's level. The world economy and the overall country's conditions are more related to macro economics. The tools of economics will allow you to fully understand the dynamics of an economy and various relationships such as employment, inflation, income, consumption etc.
Anonymous Profile
Anonymous answered
According to my economic professor, it is logic, mathematics and statistics
Anonymous Profile
Anonymous answered
Demand and supply
Anonymous Profile
Anonymous answered
Lies ... Inflation, business cycles, usury all shameful lies in order to brainwash you to pay your earnings to mega banks.

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