Journal of Hotel and Business Management

Economics is the sociology that reviews the production, consumption, and distribution of products and services. Economics centres around the behaviour and associations of economic operators and how economies work. Microeconomics analyses fundamental components in the economy, including individual operators and markets, their cooperation, and the results of interactions. Individual agents may incorporate, for example, households, purchasers, and sellers. Macroeconomics analyses the economy as a system where consumption, production, saving, and venture cooperate, and factors influencing it: employment of the assets of labour, capital, and land, currency inflation, economic growth, and open arrangements that have impact on these components.