To explain economic swings, John Maynard Keynes turned to the ideas of animal spirits and sentiment.
Economics is the study of scarcity and how it impacts a variety of complex social issues, including how resources are used, how goods and services are generated, how output and welfare rise over time, and a host of other intricate issues.
The economy has an impact on how we live our lives. We may apply economic models to societies, governments, businesses, and individuals through comprehending past, present, and future economic models.
Planning the production, trade, and consumption of goods and services within a society is the responsibility of the economy.
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