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ECONOMICS

Economics is the study of economic phenomena and human behavior in meeting their needs under conditions of scarcity. The field of economics encompasses many disciplines, including microeconomics, macroeconomics, economic policy, economic history, history of economic thought, and economic geography.

  • Microeconomics focuses on the behavior of individual economic agents, such as firms, households, and consumers. It explores how they make decisions and interact with each other in markets.
  • Macroeconomics, on the other hand, studies economic phenomena at the aggregate level, such as the overall performance of the economy and its key indicators, including employment, inflation, and growth. It also examines the role of government in managing the economy and achieving macroeconomic objectives.

Within these two broad branches of economics, there are specialized disciplines that study specific areas of the economy.

For example, industrial economics examines the behavior of firms in different industries, while environmental economics explores the relationship between the economy and the environment. Other fields include financial economics, which focuses on financial markets and instruments, and the history of economic thought, which examines the evolution of economic ideas over time. Overall, economics plays a vital role in helping us understand how societies allocate scarce resources and make decisions about production, consumption, and distribution.

Vectors

Vectors are quantities characterized by a magnitude and a direction. In two or threedimensional space, a vector is represented by an arrow that has a certain length, an initial reference point (O) and an endpoint (x,y).
example of a vector

Vector space

A vector is a n-tuple of real number called components of vector. The set of all n-tuples of real numbers v = (x1,x2,...,xn) is called vector space n-dimensional or n-space and it's denoted by Rn.

example of vector space

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