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Frequently Asked Questions

To excel in the UGC NET Economics exam, reviewing each topic regularly for comprehensive understanding is essential. Frequent revisions and engaging in mock tests are excellent strategies for assessing your level of preparation. Consider using a highly-rated app that offers free mock tests designed explicitly for the UGC NET in Economics.

Economics examines how societies use scarce resources to produce and distribute goods and services. It is divided into:

Microeconomics: Looks at individual and business decisions in producing and consuming goods and services.
Macroeconomics: Covers more significant economic issues such as national growth and international trade.

Capitalism, a dominant economic system, offers several benefits, including:

Wealth Creation: Encourages innovation.

Enhanced Quality of Life: This leads to better goods and services and improved living standards.

Empowerment: Promotes economic participation and distributes power more widely.