How to Improve Our Standard of Living by Understanding Basic Economics

Need to Improve Our Standard of Living – Then Reading This Book

Our standard of living has a lot to do with economics, especially our family’s financial situation. We must understand basic economics and use it to create our well-being and become wealthier.

The reader, either a student or a non-student of economics, are suggested to make use of this information and decide to how the reader wants to see the better life from here on out. Most importantly, the book will help the reader improving the well-being and becoming wealthier.

To those students who did learn economics from school, many of them might forget that they should learn it to apply the knowledge to their own benefit. In the real, practical world, most people are not aware that they are part of economics and economics influence them daily in everything that they do and decide. Economics deal with human welfare, thereby directly impacting our well-being and/or our standard of living. Hence, it is important for everyone to know this information and make use of it to their best benefit.

We always heard from several media regarding economics. How cheap or how expensive some specific goods or services are. What the worth of our country’s currency is to exchange with other country’s currency. What our government decides to do about their budget, monitor inflation, and adjust interest rate.

When listening to and reading about economic matter from media, most of the time, we feel as if we have been excluded out of these expert groups of people. They use a highly technical language that makes great sense to them but we cannot make any meaningful sense out of it. Needless to say that we are many times being intimidated with that information. Having understood the basic information from this book, we will be comfortable and enjoy reading or listening more and more of what all these experts have to say or write.

In this book, we will, at the least, answer the following questions. What is economics and what are influence factors to economics? What is the effect of market competition on individual or family household units? What is Gross Domestic Product (GDP) and why is it related to our productivity? What are inflation and deflation and how are they impacting us? Is there any relation between inflation and interest rate? Why have we been charged with a high interest rate and how much worth on our hard earning money after all? What are an unemployment rate and its impact? Are they any correlation between our wage and unemployment rate? What has this unemployment rate to do with inflation and our labor market? How does the government involve in the economy? What are fiscal and monetary policies? What is the role of central bank? How do the government policies impact us? How is globalization involving and effecting on us? Finally, how can we create wealth and living better at the bottom line?