Do you like to learn economics?

Then it is essential for you to know from basics.

Economics can be defined in many ways such as a branch of knowledge that deals with the production, consumption and transfer of wealth, study of scarcity & the study of how people use resources and wise production & use of wealth to meet the demands or needs of the people.

Concepts you need to know are needs, wants, scarcity, goods, services, consumer, demand, supply, scarcity principle, law of demand & supply, revenue, cost, money, banking and trading.