Economy is the study of human behaviour in satisfying unlimited wants by using limited resources.

Economy is the study of human behaviour in satisfying unlimited wants by using limited resources. Scope of economics can be broadly divided into two parts. MICRO ECONOMICS:- studying only the behaviour of one product or one business. MACRO ECONOMICS:- studying about entire economy. Macro economics therefore build on the knowledge gain from studying the individual components of the economy. For an example calculating the national income, inflation, unemployment etc.

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