Decoding Economics Jargons!

economics class 12

Understanding economics is a great deal for the students, while the students of economics consider it as the best subject to study the behavior of consumers and understanding the financial status of an economy. No matter what you chose to study -micro or macro, you need to put extra effort to understand it properly.

The price mechanism is the core aspect of markets and it’s applicable in all types of market with the forces like demand and supply. There are many theories available in Economics to understand the price mechanism and Marshall’s theory has been an instrument for many years.

The theories of economics are very hard for a common man to understand, but it is already implemented everywhere and associated with the core business principles. The micro-economics focuses on consumer behaviour, while the marco economics is the study of economy and fiscal consolidations. The jargos like fiscal, taxation, deficit, fiscal deficit, GDP, inflation may not be interesting topic as you need to study hard to understand these and have a good hold on these jargons.

Going into the economic jargon redundant for a common man. But, they know the implementation of these terminologies in their own words.

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