Elements of Economics - Economics

Description:

Basic economics involves concepts like capital, trade advantages, and economic cycles, while also understanding the roles of banks, firms, consumers, and the macro and micro aspects of resource allocation and profit generation.

Test Series Benefits:

• Evaluate your proficiency in analyzing the circular flow of goods and services within an economy, considering the role of consumers, businesses, and capital resources.
• Assess your knowledge of macroeconomic concepts such as recession, depression, and balance of trade, understanding their implications on a national scale.
• Test your competency in understanding the principles of absolute and comparative advantage in international trade, and how they influence commercial activities and profit-seeking organizations.

Prepare for the exam: MBA-Indian Maritime University (IMU) CET.