CPD Economic Principles
Approval No: FPI 21060080
Economics can be described as a social science concerned with the production, distribution and consumption of goods and services. It studies how individuals, businesses, governments and nations make choices on allocating resources to satisfy their wants
and needs and tries to determine how these groups should organize and coordinate efforts to achieve maximum output.
There are many branches to economics – the two primary branches being macroeconomics and microeconomics.