Branches of economics

Modern Monetary Theory (MMT) – is a recent development that emphasises the ability of the government to print money and borrow in order to achieve full employment. See Modern Monetary Theory (MMT)
This word(Economics) comes from two Greek words “eco + nomos” where eco implies “home” and “nomos” refers to accounts. Economics evolved gradually and concerns about keeping the family accounts into today’s wide-range subject.

What Is Economic

Table of Contents

There are various definitions of economics, but simply you can understand it by analyzing how people utilize resources.
Economics may be known in a few several ways. Mainly this is the study of poverty, learning of how people utilize resources and respond to incentives, or the decision making study. It regularly includes subjects like finance and wealth, but not all about money. Economics is a wide system that helps us to know historical trends, make predictions about the new year or, understand today’s headlines.
We do various activities related to economics in our daily lives without realizing it. We make different decisions to perform different tasks such as what, why, where, how to buy something and how much we need.
We use economics from our houses to workplaces but do not exactly know what economics is. 
Do you want to know economics and branches of economics?
If yes, your search ends here, because in this blog we will tell you about economics and its branches along with the reasons why we use them.
Economics is a broad subject that deals with the proper allocation of resources within society. Different Branches of economic focus on the different aspects of our life.
Production Cost: It implies that the resources’ cost evaluates the price of goods and services.
Labor Economics- with the help of labor economics, we get to know about the wages pattern and income, etc. We need to study labor economics to understand the dynamics and functioning of the wage labor market.