Category: Economic System

Economics is a social science that studies how individuals, businesses, governments, and societies decide how to allocate resources to meet their needs and wants. It is a fundamental part of our daily lives and affects every aspect of society, from our personal finances to the policies and decisions made by governments and businesses. Basic Concepts…

I thoroughly believe I encompass a strong, representative example of the free enterprise spirit. The free enterprise economy adequately provides me with opportunities for involvement in work and the community. Free enterprise is private resources owned, and competitiveness will thrive economically with minimal government intervention. In many respects, I value my personal freedom from the…

1 Background of the study Macroeconomic stability is a fundamental macroeconomic policy objective of every country, whether developed or developing (Frimpong & Oteng-Abayie, 2010; Agalega & Acheampong, 2013). This has made the study of the relationship between inflation and economic growth of interest to economists for a long period of time (Khan, 2014). The primary…