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WHY IS ECONOMICS VERY IMPORTANT? In today's world economy has become an extremely useful subject and has acquired great importance in the last few decades. Economics is very important in society because everyone faces market problems and personal finance . To deal with this problem we will discuss what economists believe about problems of daily life and the reasons why we should study economics. WHAT IS ECONOMIC?   Economics, at its very heart, is the study of people. It seeks to explain what drives human behavior, decisions, and reactions when faced with difficulties or successes. Economics is a discipline that combines politics, sociology, psychology, and history. When you study economics you gain a toolkit of skills, approaches, and ways of thinking that you can apply to a wide range of problems. Economics is one of the central disciplines underpinning the study of business and management and public policy. USEFULNESS OF ECONOMICS Economics has become an extremely useful su

ECONOMICS Economics is a broad term given to the social science of how choices are made in the face of limited resources. Economics is the science, which studies economic problems. Every country, company, and individual financial growth depends on the market economy . we will discuss some essential economic topics like economies of scale , the scope of the economy , supply and demand , and financial news. What is economics about? Science studies how societies use scarce resources to produce valuable commodities and distribute them among different people. Economics is the science that studies economic problems. Economic problems arise; due to following reasons; (a)  Man has unlimited wants or ends; (b) The means or resources to satisfy them are limited. (c) These resources are not specific but have alternative uses; and (d) Man has, therefore, to choose between wants. Economic example  Man has unlimited wants Human beings experience wants for food, clothing, shelter, education, ent

Investing in savings schemes can also help fund the education and marriage of the individual’s children. Apart from it being a disciplined way of saving money , investing in such schemes can also provide additional income. There are also various small savings schemes , where the contribution is less, but the total contribution that has been accumulated over the long run will be large.   Saving schemes  are mostly provided by banks and other financial companies but sometimes they required a high amount of money and a long time so these plans are not useful for middle-class families and street vendors. Therefore people are think easy to save money on piggy and home tools for emergencies but holding money at home is not the best idea because they are not getting interested in their money. India has a large amount population of middle-class families so it becomes a critical problem for the government because it affects the country's economy. So besides other private saving schemes gov

Saving money is very healthy for your bright future. There are various saving schemes available in India but here we are providing the best saving scheme in India . Using our saving money ideas you can choose the best saving plan for your child or for your family. Types of saving schemes  1.        Government saving scheme ·          Different plans for different purposes ·          Guaranteed return ·          Risk 0% ·          Period 5-20 years ·          Highly liquid ·          Taxable or non-taxable 2.       Bank saving scheme ·          Offered by banks and some financial institutions regulated by RBI ·          For every citizen of India ·          High liquidity ·          Return fixed and guaranteed ·          Risk 0-5% ·          Period 7 days -10 yrs ·          Taxable(TDS) ·          Types –FD or RD 3.       Market-linked savings scheme ·          Offered by asset management companies ·          Invest in a small amount in market-l