elnorcafranca

@elnorcafranca (2)

Age 33

Joined myLot 13 years ago

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elnorcafranca's Activity

Economic development or Economic Growth?

socballais @socballais (71) • Philippines 12 Sep 12

Countries around the world benchmark their economic performance by the amount of the Gross National Product (GNP) that they attained. The higher the GNP, the higher is the economic growth. Is economic growth equated with economic...

59 responses

elnorcafranca Economic Growth refers to an increase in the real output of goods and services in the country like increase the income savings in investment. It is concerned in the economy's output. It's gradual increase in one of the components of GDP, consumption,...

20 Sep 12

Which comes first Microeconomics or Macroeconomics?

socballais @socballais (71) • Philippines 12 Sep 12

Is it possible to venture into Macroeconomics without studying Microeconomics? Is Microeconomics a prerequisite course before studying Macroeconomics?

60 responses

elnorcafranca It is possible to study subjects in advance, for instance Macroeconomics, simply because, if you are determined to learn new topics, fortunately you can. But it's still more appropriate to follow the process which is minor - major. Microeconomics serves as...

17 Sep 12