What Are The Nature And Scope Of Economics With Picture?


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Economics deal with all the analysis and study related the economy which include micro as well as macro level analysis. It includes demand and supply analysis, value of firm, industry structure, theory of the firm, bundling concepts, statistical tools for analyzing firm's performance, pricing issues in various industry environments etc. At macro level, economics inculcate the policies taken by the government and central bank to regulate the economy. It includes fiscal policies and monetary policies to regulate the movements of funds in the three economic agents of country i.e government, house holds and industries. Economics cover every aspect from small firm structure to large firm or industry structure.

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