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  Economics and its importance in daily life- Economics is a subject that deals with various situations and problems going on in an economy and the solutions to those problems. It includes planning how to use the nation’s wealth and remove problems like unemployment, inflation, poverty, over-population, etc. These problems need careful planning keeping in mind the ongoing situation and the upcoming twists. It also includes the change in the foreign exchange rate which defines the position of a nation’s currency in the global exchange market. Economics also include providing a good living standard to the people residing in a country and giving them good opportunities to get access to a better lifestyle. It also deals with per capita income. Also, it calculates and decides the position of a nation in the global market in terms of social and economic development. It is because both social and economic development are important equally regarding the growth of an economy. Imagine if there i

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