Economics is an important branch of studies that deal with the
rules, principles, and laws governing the economy of a nation
and different parts of the world. Economics is the study and
an analysis of how individuals, businesses and populations use
money or other resources in order to produce wealth. It is
important to understand the concepts and basic of economics
for state, federal and local government and even for companies
that are affected by them. Business professionals and economics
professionals must know the exact working of economics to be
able to advise companies and clients in businesses and the
students in an academic setting.
Economic growth may be defined as an increase in economy
capacity to manufacture goods and services within a given
period of time. In simple terms, economic growth suggests any
long term expansion of growth and productive potential of an
economy and its ability to satisfy the demands and wants of
the natives. Sustained economic growth has a great impact on
the nation's national income and also on the level of
employment.
