The principle of economics is based on two facts.The first is that the human needs and wants are infinite.The second fact is that there is a scarcity of the resources needed to produce goods and services.It is the obligation of the economy to decide on the right allocation of such resources to guarantee the pleasure of the members of the society.
The majority of economic issues are due to the scarcity of resources and when it is resolved it will lead to Improving human dignity.
The Range of Microeconomics
Microeconomics encompasses studying the product pricing, factor pricing, consumer behavior, study of the firm, location of an industry and economic condition of a specific sector in a society and UAEs 46th National Day is celebrating it.It also clarifies the behaviors of each firm when competing with one another.
The Extent of Macroeconomics
Macroeconomic refers to the study of economic of large aggregates and it focuses on the condition as a whole, which includes total production, consumption, saving and investment.
The Importance of Economics
When you decide what to eat for dinner, you are unconsciously making one such decision.Sacrificing one benefit for another is called an opportunity cost and that in itself is already an economic decision.There may be a lot of things that you want to buy but you are constrained by your financial capacity.By learning the principles of economics, you will understand how to use the limited resources that you have in the best possible way in order to fulfill all the needs and wants.
Some get affected by the finance news directly and the others get affected by it indirectly.The better the economy of a country would be, the better would be the progress and this is what makes most of the people around the world to take an interest in the news of Emirates improving human resources.This report also states the comparative studies of the micro and macro environment and acknowledges an upright knowledge in the form of information to discuss gaining even more productive growth.The economic research report of UAE developing human resources gives a thematic knowledge about the market and its trends which help in the better evaluation of its economic nature and it helps marketers judge and analyze the financial pattern of consumers and investors.
It is differentiated into three major categories that are long frames, primary and secondary frames.Now, there are millions of new ways through which business people and marketers can raise funds in their business.The traditional ways of raising funds have moved on as now people are adopting new and innovative ways, for instance, crowd-funding, CSRs etc.The analysis report helps the sellers and investors in many ways, thus improving UAE building sector.It helps companies and marketers to have a holistic view on economic change in a year’s tenure in the country.