ECONOMICS

HI! One and all. Today Im going to share with you the term mentioned above known as economics. The word is such a short but its meaning is beyond the boundaries.Economics basically means the management of resources. Its the simplest definition of Economics the other may be quite Complicated and boring which may not create an Interest in the reader.As we all know that there is not any economy in the world which has sufficient resources so that it can fulfil all its demand.As we generally say that Resources are limited but Wants are Limited. Through this Concept a term comes which is known as OPPORTUNITY COST which means when we sacrifice one Product with an Product. For ex- Lets take the example of Siddharth. Siddharth is working with a big MNC earning 6 figures salary. He is having much money to fulfil all his desires but not having enough time to contribute towards his Parents and his Family.The crux here is that for Siddharth the Opportunity cost of Time would be more because throughout the day due to Work Pressure he is unable to devote his time.Above mentioned example is the best example of Opportunity cost taking in to Consideration Time and Money.Economics is a much Interesting Subject and one has to develop its Interest If he/she wants to succeed in Corporate Environment. Let me remind that Demand and Supply comes under Economics and the overall economy runs on demand and Supply other things being equal as the golden rule.All economies are interdependent and interconnected with each other. It may be in the form of Globalization and Internationalization though which trade facilitates all over the world and now it is in the form of Services companies minting millions of dollars sitting at home country and delivering their services abroad.

Last but not the least. One has to move with Economy if he/she wants to save the limited resources for him and for his/her coming generation. ThankyouSiddharth MehtaJRE group of Institutions