Day: October 22, 2020

The study of economics begins with understanding of human “wants”. Scarcity forces us to economise. We weigh up the various alternatives and select that particular assortment of goods which yields the highest return from our limited resources. Modern economists use Read More …

The modern word “Economics” has its origin in the Greek word “Oikonomos” meaning a steward. The two parts of this word “Oikos”, a house and “nomos”, a manager sum up what economics is all about. How do we manage our Read More …