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Economics is the main branch of social science in which students come to learn about manufacturing, dispersal, supply and demand along with the consumption of goods and services in the particular firm. It well explains the factors responsible for determination of production, distribution and consumption of goods and services. Earlier it was known as Political Economics which deals with the performance and interactions of the economic manager.
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- Macro-economics: In this branch of economics, we study about aggregate economy of the community or society. It deals with the affects of the wealth of nation and involves broad economy such as gross national product, national salary or rate of development and price value levels.
- Micro–economics: This branch involves behavior of personal or individual buyer such as spending his household money or own wealth etc. It also deals with the regulations and taxes imposed by government and focuses on supply, demand or other factors of level of price.
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