Geography ch 8 - Introduction to Economics — Social Studies STD 9 — Question
Maharashtra BoardEnglish MediumSTD 9Social StudiesGeography ch 8 - Introduction to Economics2 Marks
Question
The economy begins at home.
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Answer
Household finance is related to income and expenditure.
Every household has unlimited expenditure and the income earned is limited.
The household has to make a choice regarding how it has to spend its limited resources.
Management of this limited income to meet the unlimited expenses is Economics.
As we manage the finance of our family, similarly the villages/cities, states, countries and the whole world needs to have economic management. So we say Economy begins at home.
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