Sustainable development is meeting the needs of the present without compromising the ability of future generations to meet their own needs. It’s about balancing economic growth, social equity, and environmental protection. Key Characteristics / Core Concepts Environmental Protection: Conserving natural resources and minimizing pollution. Economic Growth: Ensuring economic progress that benefits all members of society. … Read more
Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on broad aggregates and their interactions within the entire economic system. Key Characteristics / Core Concepts Aggregate Demand and Supply: The overall demand and supply of goods and services in an economy. Economic Growth: The … Read more
Economic history is the study of how economies have changed over time. It examines past economic activity, institutions, and policies to understand present-day economic systems and predict future trends. Key Characteristics / Core Concepts Analysis of long-term economic trends and patterns. Examination of economic systems across different cultures and societies. Study of the impact of … Read more