Economy : Learning Basic Concepts

IS ECONOMICS A SCIENCE OR AN ART? Economics is science in its methodology and an art in its application, because it has theoretical as wel...

WHAT IS THE ECONOMIC PROBLEM AND WHY DOES IT ARISE? According to the economists, a problem of choice is an economic problem. It can easil...

NATURE AND SCOPE OF ECONOMICS The nature and scope of economics can be understood by the study of the following points: What is the sub...

MODERN SCHOOL OF THOUGHT        "Economics is the Science of Scarcity and Choice" Prof. Lionel Robbins has strongly criticized Al...

   NEO-CLASSICAL SCHOOL OF THOUGHT                                                  "Economics is the Science of Material welfare...