Global economy

What is Economics? TAGS: | |

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Economics is the Science(and Art) of Decision Making.

Scarce resources need to be allocated to best meet society`s needs.

Economists study how these choices are made, what are the effects of these choices and whether public policies may be needed to improve outcomes.

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The difference between Keynesianism and Suppy Side Economics TAGS: | | | |

keynesianism and suppy side economics
Unlike the Keynesians, Supply Side Economics did not agree that such a tax cut would necessarily cause inflation. Instead, the supply siders believe that the American people would actually work much harder and invest much more if they were allowed to keep more of the fruits of their labour. The end result would be to increase the amount of goods and services our economy could actually produce by pushing out the economy`s supply curve. Hence, supply side economics.

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What is a Market? TAGS: | |

A market is a group of buyers and sellers of a particular good or service.

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