Question

Economics is sometimes called the dismal space. Of the big ideas in this chapter, which sound dismal like bad news?

Answer 1

Economics is the study of production, consumption, and transfer of wealth. We have a number of theories defined by the great economic scientists. So many countries have followed the theories of economic process and got succeed in the list of developed nations. These are all the part of one side and we see another side dismal space in some of the nations. They followed a wrong theory for the implementation of policies at the time of economic fluctuations. Its impact leads to enhance the over inflation like as the example of Zimbabwe country and sometimes over deflation will occur. In the previous, so many examples had the dismal space in some countries which are still under developing fighting to get a stable economy. Some of the other countries come out of dismal space and recovering the position of an economy which are belonging to developing nations example of India, Argentina, Albania etc.