An Introduction to Economic Trends
Economics as a subject of study is very popular across the world and also in Singapore, which is the reason so many students are lining up to get good quality econs tuition Singapore . But economics can’t be confined just to our textbooks and classrooms. Every activity we indulge in during our daily lives has either an explanation from or an impact on (and usually both) economics. One of the very common terms used by economists as well as laypersons is economic trend. Students are taught about economic trends by their jc economics tutor , while political commentators, media persons, or even the man on the street are also quick to label any new development as an economic trend. To understand it, we need to first be clear about what an economy is. It refers to the sum total of all the activities in a particular geography which results in generation of revenue. Shops, factories, companies paying salaries, buses transporting people, all of these are elements constituting an econom