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What is Overview of Economics and Its Branches about?

Economics is defined as a social science that deals with allocating scarce resources to satisfy unlimited human wants. It has two main branches: microeconomics examines individual economic units, while macroeconomics examines the whole economy or its aggregates. The goals of macroeconomics are sustainable economic growth, price stability, and full employment to provide jobs for all willing and able to work. The production possibilities curve illustrates the tradeoffs between two goods based on available res

Author

Regine Rafer

Language

EN