Economics Notes

Many attempts have been made to explain the subject matter of Economics but for our purpose, we will consider some simple ones. Adam Smith (1776), who is known as the father of economics defined economics as “an enquiring into the Nature and causes of the wealth of nations”. He was basically concerned with the broader aspect of wealth and the means by which the volume of production could be increased…

Content:

1. Meaning of economics

2. Basic economic problems of the society

3. Economic system

4. Production

5. Co-operative societies

6. Limited liability companies

7. Partnership

8. Privatization and commercialization

9. Public corporations

10. Sole proprietorship