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Concepts Covered Under Economics
There are various key concepts that are covered under Economics which can result in understanding the economics properly. The University of Phoenix ECO/561 Course Online helps the students to apply the concepts of economics in order to make management decisions.
In this ECO/561 course, students utilize the notion of opportunity costa and scarce resources to do economic analysis. Below is the list of various concepts covered under University of Phoenix ECO/561 Online course.
- The Market structure
- Credit Market
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Importance of Economics
Economics is a subject which helps in prime distribution of resources and services in the society. Also, It helps in understanding the market economy and tells us what to do in order to maintain balance in the market. Economics can also help in serving various benefits and information to society like:
- Prime distribution of Resources
- Management of raw materials in case of shortage
- The extent of government intervention in the economy
- Provides social efficiency
- Helps to overcome unemployment & poverty
- Serves in increasing economic growth
- Assists in forecasting
So, economics subject can lead the country to a new and advanced stage, If economics is considered properly with utmost care.
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