The Black Education Free Encyclopaedia
Macroeconomics studies the behavior of the whole industry or looks at the nations overall economy.
Microeconomics focuses on individual people and businesses, studying the consumers and businesses within an industry.
The 3 main theories in economics are Marxist Industry, Keynesian Industry and Neoclassical Industry.
The economic system is by which governments or communities plan and distribute products. Different types of economic systems are:
- Traditional economic system
- Command economic system
- Market economic system
- Mixed system