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What are the different economic and non economic costs of unemployment?
Economic costs is the decrease in goods and services that occurs as result of unemployment but non-economic cost is the increase in goods and services that occur as result of unemployment.
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How economic growth is different from economic development?
Economic growth is defined by increases in GDP.
Whereas, economic development is more of a vague measure usually encorporating social measures such as literacy rates or life expectancy as a means of...
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What are different kinds of economics?
Economics is one social science among several but has fields bordering on other areas, including economic geography, economic history, public choice, cultural economics, and institutional...
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What are the different area of economics?
economy can be divided into 3 main sectors The primary sectors: This sector includes farming and raw material (mining)The secondary sector: This sector include all manufactured goods (using resources...
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What are the different types of economics systems?
There are capatalist/market economies, where the buyers and sellers negotiate the terms of a transaction, communist/command economies, where a governing body determines the terms of a transaction, or...