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Definition of Economics
According to our economics assignment help experts, a student needs to know the definitions very well before proceeding any further.
Economics has been derived from the Greek works, Oikos and Nomos. Oikos means House and Nomos means Managers. Economics initiated as the study of household management in ancient Greek timeline. Later it evolved as the study and analysis of wealth gain and expenditure in 16th century Europe.
With Adam Smith, the father of Economics, the definition of the subject changed to, “an inquiry into nature and causes of wealth of nations”. Here wealth refers to both goods and services; their production and disturbing. It analyzes the manufacturing, allocation and expenditures of services and merchandize.
Economics is also the study of human activities in relation to wealth. There are several concepts and definitions of Economics from wealth oriented definition to growth oriented definitions. Collectively, the term Economics can be summarized as the Study of Prudent Management of One’s Household affairs.
From that is becomes very clear that the subject is application and concept based. Therefore, all academic institutes put greater attention on project works and dissertations. If you feel stuck with it, our economics assignment help team is always ready to stretch their helping hand to you.
Why might you need economics homework help?
The importance of this subject is not only for academic purposes. Economics also helps us in understanding how a nation’s economy works and how buyers and seller interact in a market. Economics assignment help can be a major help for all students studying economics as it contains various theories and sometimes becomes very tough to understand. It is concerned with theory of production, distribution, consumption and services.
Economics is closely linked with studies of several theories of behavior of the people within the market. It mainly concentrates on how they try to achieve their goals such as minimizing expenditures and maximizing their sales for increasing the profit margin, while maintaining equilibrium in demand and supply.
These basics such as demand and supply, price elasticity, demand and supply are absolutely mandatory for preparing a stellar project and also get a fairly good idea of applied economics. Often, students fail to cope up with studies of such intricate details along with managing other chores. For them, economics assignment help is a boon as the team is excellent in resolving students’ doubts and problem areas.
Digging the subject a little deeper-
Economics can be categorized into two main areas depending upon the area and activities in focus-
The distinction between these two areas is that Microeconomics focuses on the wider aspects like employment, growth, finance and banking, while Microeconomics focuses on the more minute and basic theories like cost, production, price, demand, supply etc.
Macroeconomics: Macroeconomics is that part of Economics which is concerned with large scale factors and general economic factors, such as National Income, National Productivity, Interest Rates, and Inflation etc.
Microeconomics: Microeconomics is that part of economics which is concerned with single factors and it deals with Micro level and effects of individual decisions.
International Economics: International Economics Studies concepts of goods and services which are beyond the boundary of Crossways International limits. It includes the concept of International trade and also covers aspects like dimensions and Sharing of gains after trade. It includes flows of money across different countries and the resulting affects that can have on the economy as a whole.
Still in doubt?
Sounds too complicated? No worries. Our economics homework help experts have been working in this field for years now and they know how to simplify terms for students such as you. Have a look at the following example.
Suppose, an expert at Courseworktuors.com asks a student that why he goes to school or university? The answer would be very simple- for the purpose of studying. The questions that would be following up next would be “why”? Here, the answer that you will follow might be t-“to earn money in order to fulfill various needs of life and to live in peace and comfort”. Thus courseworktutors.com tries to figure out that the present activity i.e. studying is directly linked with the desire of fulfilling and satisfying your future wants and leading a happy and comfortable life. This also gives you one more definition of economics-,
“The activity of earning and spending money and the subject which deals with all these activities is known as economics. It is the study of human activities in relation to wealth.”
That’s how easy our economics homework help team makes the subject for you! We write assignments with practical examples, graphical illustrations to make it unconventional and unique.
The modern concepts of Economics
In the modern century, several economists refer it as the study of business affairs in general. Varies Economists like Adam Smith, Alfred Marshall, Robin and Samuelson Stated that Economics is the utilization of scarce means, having alternate uses, for achieving multiple ends. Modern concepts of economics explain how to use scarce resources to one’s best advantage.
These concepts can again be summarized with the help of an example: A person has a limited amount of Cash but his desire is to buy many things but he cannot buy them all. He must, therefore, choose what to buy and what not to buy. Thus, “Economics can also be defined as a Science of Choice When faced with Scarce Means and Unlimited Ends.”
Popular Topics and Approach
Other Economics Assignment Help Topics at Courseworktutors
|Consumer Choice Theory
|Consumer Price Index
|Consumer Choice Theory
|Consumer Price Index
Some of the special topics where we offer assistance are as follows-
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