Economics is an interesting field of study, not just for those who have an affinity for it. It is a subject that has real-life implications, from the basics to the advanced level, the writing tasks can be a little difficult at times but you can always reach us for economics homework help in the USA.
It is not just an interesting subject but it has many career rewards, most elite positions in the government, like; diplomatic services, audit, journalism, tax officer, civil services, scientific research, economics professors, economic advisors to the federal govt., positions like the chair of the board of governors of the federal reserve, etc.
Some of the prominent careers in the private sector include; investment banking, information technology, marketing, insurance, advertising, management consultancy, etc. According to IFS and BBC, a career in economics is the second most lucrative career only second after medical, and not very far apart.
Economics is the study of various aspects of economic impact that affect the market at the micro or macro levels like the production of goods and services along with their distribution and consumption. It is part of various courses at the school or college level due to its enormous application in professional life.
Students while studying economics have to complete a variety of writing tasks that are often lengthy and time-consuming making it difficult to submit them as per the deadline.
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Economics as a whole is comprised of four major concepts which are mentioned below:
Our writers have expertise in multiple economics-based topics like:
Economic resources are the goods and services available for the production of consumer goods. 3 resources of economics have been considered as the classical resource of economics. Off recently, entrepreneurship is also considered an economic resource because the business owners start the business and the whole process of production. The resources are described below.
Economics can be classified into two broad areas of study i.e. Microeconomics and Macroeconomics.
It is a major area in Economics that deals with the behavior of a single unit (an individual or a business firm). Explaining it further, this area helps us examine the market behavior of a firm or an individual consumer in order to learn the decision-making process. Hence, the study of Microeconomics broadens our knowledge on the process of interaction with individual buyers and sellers to learn about the elements that stimulate their choices. The concept of microeconomics is mostly concerned with smaller pictures related to individual behavior. So, in this area of Economics, we study product pricing, factor pricing, the study of firms, and many more. We will provide you with details of the desired topic in the simplest form.
Macroeconomics, on the other hand, focuses on the bigger picture to determine the decision-making process. It includes the national economy, regional economy, or the global economy. Hence, this area draws our attention to the collective supply of goods and services to determine price, inflation, GDP, unemployment, etc. We study the general price level, investment and savings, Economic growth, and many more. Our economics homework help writers have highlighted the differences between these two areas of Economics.
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Microeconomics |
Macro-Economics |
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The study of Microeconomics is concerned with the behavior of the individual units. |
The study of Macroeconomics is concerned with the behavior of the economy as a whole. |
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Termed as ‘Price theory’ |
Termed as ‘Income Theory’ |
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Deals with the issues that disturb an individual or company. Like Opportunity cost, demand, supply, etc |
Deals with the issues that disturb the entire country like unemployment, inflation, price, etc |
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Unrealistic assumptions are made. |
The fallacy of Composition’ is involved which doesn’t turn out to be true because not necessarily, the things that are true for aggregate are also true for the individual. |
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