Basic and popular Economics Terminology

The Bs-commerce now writes about economics. In this article you will be able to understand the basic economics terms so, let's start.

1) Economics:

Economic as a social science which is concerned with the proper use and allocation of resources for the acheivement and maintenance of growth with stability and efficiency.

2) What is Demand?

Demand for a good in economics means the quantities of it which consumers will buy at various prices during a specified time period.

3) What is capital?

Capital is any good which is used as input in the production process to produce other goods.

For example: machines, car, mobile phones, building, computer, dams, human skill etc., used to produce goods and services fall in the definition of capital.