WHAT IS ECONOMY?

In order to learn a lot about economics , finance and money , it is important to first understand what the economy is. You can easily learn what the economy is through my Economy Guide .

DEFINITION OF ECONOMY

Scarcity is one of the most important factors leading to the existence of economics. Famine has and will exist throughout history. Of course, in some places with the effect of the right economic moves are scarce in some places, scarcity is vital. The shortage we have mentioned includes many things, not just money, but indirectly linked to money. It is the science of economics that examines how to combat this famine and the preferences of society and individuals over famine .

People who deal with  economics are  called economists . Economists examine the preferences mentioned above professionally, produce new preferences and form theories. Economists can work on the individual as well as on the international level. Economists can work in financial institutions, large corporations or academic fields.

economy and money

WHAT IS MICROECONOMICS?

Microeconomics is a subfield of the economy . This field examines the preferences and situations of individuals and businesses. For example, the goods sold in the bazaar, the effect of pricing of these goods to other sellers, money flow in the bazaar, the earning of sellers, the number of people who come to the bazaar and the number of shoppers are the subjects of this field.

WHAT IS MACROECONOMICS?

Macroeconomics is another sub-area of ​​the economy . This area examines the preferences and situations of nations as a whole. Macroeconomics affects both nations and individuals. Issues such as unemployment rates in society are one of the topics of this field.

LOOK CLOSELY

We’ve talked about a lot of famine above. A close look at the shortage of terms in terms of understanding the economy will strengthen our foundations. Now let’s take a closer look at famine. If humanity had not faced scarcity since it existed, and had not confronted this distress, if everyone could have achieved everything they wanted, naturally, economics would not have emerged. In short, scarcity is one of the most fundamental consequences of the emergence of the economy. We have mentioned above, but let’s say it again. Scarcity does not only refer to shortages of food and beverage or just lack of money. It covers all of the cases the concept of scarcity. 

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