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An Introduction to Economics
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This is first video in the Economics course series. This video will make you understand what is Economics all about and what are the Economic problems. So Introduction to Economics and Major Economic problems.

Sanchit Gupta
CAT Preparation | Full Stack Developer | Programmer | MU'nite | Economics | Bachelors of Technology | Entrepreneur |

Unacademy user
Amazing Course! Very much knowledge! Notes PPTS bahut ache hai sir aapke. Course todhe chote ho jaaye toh best rahega.. Matlab sligtly kam in length. otherwise very good!! I like it very much!
Sanchit Gupta
2 years ago
Thank you ! Aayushi! Stay Tuned..
beautifully explianed full course
  1. Economics - Introduction to Economy Part 1 Made by Sanchit Gupta- Copyrighted and all Rights Reserved

  2. Unit 1: Introduction Q1. What is economics about? Ans: Economics is about making choices in the presence of scarcity. Q2. What is an economic problem? Ans: Basic economic problem is the problem of choice which is created by scarcity of resources. Q3. What is economizing of resources? Ans: Economizing of resources means making the best use of available resources Made by Sanchit Gupta Copyrighted and all Rights Reserved

  3. Why does an economic problem arise? Economic problem arise due to the following three causes: e Economic resources are scarce and limited: Most of the goods and services which satisfy human wants are limited and scarce. These goods are called scarce whern their demand is greater than their supply, no matter what is the price of these goods. (Root Cause) Human wants are unlimited: satisfied by cons new wants keep arising. Resources have alternative uses: Alternative uses means that a resource can be used for many purposes. But a resources can be use only for one purpose at a time Made by Sanchit Gupta Copyrighted and all Rights Reserved