Every author has made it clear in fairly different manner that there is no proper definition on “Economics.” According to (Swann G, 2009), Ad Adam Smith and Alfred Marshall have discovered the concept of economics in a different and well-organized manner. Both the authors are of the view “Economics is the name of how to earn money and how to consume it” or Economics is the name of how to earn money and how to consume it.”
Economic mainly consists of two main types; microeconomics and macroeconomics. According to (Arnold, 2010), microeconomics is treated at the individual level while ...
