As a Good citizen, you know about the basic concept of the economy. because of the economics issue and benefits of the economic impact on if daily life. If you have a daily economics update, then you get well decisions about your daily life. And you knowable how the world works nowadays and take good decisions according to the daily update of the economy rate.
There we discuss the economy update that you should know about it.
Microeconomics vs Macroeconomics
The whole study of the economy update and another everything thing about the economy is called the microeconomics. The microeconomics provides you all information about the economy, its provide you comprehensive point view so it’s necessary for you that, you know about microeconomics. On the other there is one more thing which is called macroeconomics which tell you about the which tell about the small units of the economy and is also the most part, they are highly connected with your economics movement.
Comparative advantage is the most part of the economy which if an economic actor has a capability and the economy is able to produce a good service al lower opportunity costs. Then it is called the comparative advantage of the economy.
If the comparative advantage is not acting his role, then the actor gets all positive effects cooperation in the trade. And also if the cooperation is producing a good exporting service then they can produce more
Economic Growth and GDP
Every person has a desire that he increases the standard of his life or, living style of his life. So the growth of the economy is need be to satisfy the people’s and for the standard lifestyle because of the economy direct effect on people’s lifestyles. This growth of the economy is measured by the Change in GDP rate, so you should know about your country’s GDP rate of the economy rate.
Fiscal policy is the most key factor of any country’s economy if the country proper adjustment of the spending of the tax rate then your economy and the country wheel moving according to the desirable life. If your country has more spending activity and another hand the tax is low, then your country will be energizing stage.
Interest rates are a direct impact on the country’s economy rate, because when the bank place loans form for getting the loans and get the interests to return on that loans then this tells about how much people have to pay to get a loan.