Essay on Economics

Essay on Economics

Economics is the branch of study concerned with the production, distribution and
consumption of goods and services. A planned economy is the backbone of a country's
growth. All the government organisations and institutions trade according to economic
standards. It provides a basis for how individuals, business owners and governments
allocate their resources to produce and build their products. It deals with the subject
phenomena of labour and trade and related studies. Economics study provides methods
which yield the best results for trade and business. Many people take essay writing help to
write topics related to economics.

Types of Economics

Macroeconomics
Macroeconomics studies the economy on a national and international level, determining
factors and economic data that help create an economy. The study topics are foreign trade,
fiscal and monetary policy, inflation rate and interest, factors like total production that affect
the gross domestic product, government policies, depression in the economy and booms in
business.

Microeconomics
Microeconomics is the field which studies the economy on an individual level. It keeps a
check on human behaviour and factors affecting the business. It studies how to price change
can affect the business models and decision making. It covers how the dynamics of demand
and supply affect business decisions. It studies how labour is divided and allocated. The
studies of risk management, strategy and forecasting of growth are done.

Economic Indicators

Economic indicators are representatives of economic performance. Government agencies
and private companies periodically generate them. They have a significant impact on stock
markets, shares, Bloomberg, Sensex and Nifty.

Since Economics is a vast field of study and involves great analysis, some of the economic
indicators are:

Gross Domestic Product
It is the total market value of all finished goods and services produced in the country in a
certain period. The Bureau of Economic Analysis produces a regular report every month.

Industrial Production
It reports the monthly production of finished goods, rise or decline or changes in the trends.
It indicates the supply chain management system and the factors that affect it.

Consumer Price Index
CPI measures the changes in retail prices and is the benchmark of inflation. More price of
commodities than expected represents inflation.

Retail sales
It provides information on total merchandise sold within a given period by taking sample data
from the retailers in the country. This report presents the last month's sales and indicates the
prospective sale for the present month.

Employment Data
A high employment rate indicates a high economy which is a good sign for the country's
economy to rise. Sometimes, high employment rates can lead to inflation and a decline in
the currency.

Studying these topics in Economics is vast and thorough study is required. Students take
essay writing help online to complete their academic assessments. Essay writing experts
give proper guidance on the subject of concern. Essay writing service in Canada reduces the
burden on the students by providing the right guidance and assistance.

Why Essay Assistance?

Students look for homework assistance and online help when there is more pressure on
them. They look to do my homework to complete their academic requirements timely.

The benefits of availing assistance are:
● Quality assurance
● 24*7 availability
● Reduced burden
● No plagiarism
● Timely delivery