Economic Principles is a very important subject as it helps students to analyze the situations and arrive at a decision. In a broader sense, Economic principles mainly deal with situation analysis of an economy and the consequences of each factor. It deals with the choices made by customers and the possible factors that affect their choices.
Students with their economic principles assignment help can apply the economic principles theory to analyze the situation or case studies provided in their academics. The economic principles are applicable in Marketing, Advertising, and Promotions of company’s products and services.
Economic Principle, also known as Economic Law is a statement defining inter – relationships among various economic factors which clearly explain what are the consequences under certain circumstances. Economic Principles deals with the study of case studies using demand and supply method, the study of the marginal cost curve, major factors of economic growth etc.
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Macroeconomics mainly deals with the study of structure, performance, decision –making, and behaviour of an economy as a single unit. The main purpose of Macroeconomics is to increase national income as well as enhance national economic growth. Important factors that are associated with a Macroeconomics are – full employment, sustainability, equitable distribution of wealth and income, price stability, external balance and enhancing productivity.
On the other hand, Microeconomics is a study that deals with small – scale tasks that are related to an individual or a firm. The main purpose of Microeconomics is to carry out market analysis and calculate the goods and services costs that make use of limited amount of resources among various available options. Microeconomics mainly deals with the study of the labor economics, industrial organization, public economics, financial economics, urban economics, political economics, economic history and law and economics.
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