ECONOMICS MATTER: WANTS VS NEEDS: Knowing the difference between these two concepts will help your finances and know exactly how you spend your money by asking yourse...
Wednesday, 26 July 2017
WANTS VS NEEDS
Knowing
the difference between these two concepts will help your finances and know
exactly how you spend your money by asking yourself whenever you want to buy something
“is this really my WANTS or NEEDS”
NEED is a “must to”, it is something you have to have.
Basically there are four basic needs for survival which are good food, clothing,
shelter, basic health. Food is a must for survival, you might not need a lot of
food...
Saturday, 22 July 2017
devaluation vs depreciation
DEVALUATION VS
CURRENCY DEPRECIATION
Students often misinterpreted these two exchange rate policy
together, although they seems to do the same thing, as they both deals with
value of a particular currency in the international market. In real sense, the
value of currency dropped relating to other currencies in the world market. To
this extent they are the same.
For simplicity it is necessary to understand Exchange rate
and...
Thursday, 6 July 2017
Microeconomics and Macroeconomics
By the end of this section, you will be able to:
• Describe microeconomics
• Describe macroeconomics
• Contrast monetary policy and fiscal policy
Economics is concerned with the well-being of all people,including those with jobs and those without jobs,as well as those with high incomes and those with low incomes. Economics acknowledges that production of useful goods and services can create problems of environmental pollution....
