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as defined by wikipedia, economics is the social science which studies the creation, distribution, and consumption of products and services. Economics is broadly classified into microeconomics and macroeconomics.
Microeconomics determines the behaviour and discussion of different units (like person, associations, families, buyers and sellers) in market. Whereas macroeconomics deals with the analysis of aggregate market, factors impacting it, inflation, cost levels, national income, monetary etc.
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