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12 literary compositions that have influenced the world?

In: Name Origins, Literary Devices and Figures of Speech [Edit categories] Answer: 1. 2. 3. 4. 5. 6. The Bible or the Sacred writings: This has become the basis of Christianity originating from Palestine and Greece Koran: The Muslim bible originating from Arabia The Iliad and the Odyssey: These have been the source of Myths and Legends of Greece. They were written by Homer. The Mahabharata: The Longest epic of the world. It contains the history of religion in India. Cantebury: it depicts the religion and customs of English in early days. This originated from England and written by Chaucer. Uncle Tom's Cabin: written by Harriet Beecher Stowe of US. This depicted the sad fate of slaves. This became the basis of democracy. 7. 8. 9. The Divine Comedy: (A Dante of Italy). This shows the religion and customs of early Italians. El' Cid Compeador: This shows the cultural characteristics of Spaniards and their national theory. The Song of Roland: This includes the Doce Pares and Ronces Valles of France. It tells about the Golden Age of Christianity in France. 10. The Book of the Dead: This includes the cult of Osiris and the Mythology and theology of Egypt. 11. The Book of the Days: This was written by Confucius of China. This became the basis of Christian Religion. 12. One thousand and One Night of the Arabian Nights: from Arabia and Persia(Iran). It shows the ways of government of industries and of society of Arabia's and Persians. Economics is the social science that analyzes the production, distribution, andconsumption of goods and services. The term economics comes from the Ancient Greek (oikonomia, "management of a household, administration") from (oikos, "house") + (nomos, "custom" or "law"), hence "rules of the house(hold)".[1] Political economy was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" that also avoided a narrow political-interest connotation and as similar in form to "mathematics", "ethics", and so forth.[2] Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction, studying it often reveals why people and governments behave in particular ways. Division of Economics 1. Microeconomics deals with the economic behavior of individual units such as the consumers, firms and the owners of the factors of production. Such specific economic units constitute a very small segment of the whole economy. Their activities are presented and discussed in details. 2. Macroeconomics deals with the economic behavior of the whole economy or its aggregates such as government, business and household. An aggregate is composed of individual units. The operations of the various aggregates and their interrelationships are analyzed to provide a profile of the economy as a whole. Macroeconomics is concerned with the discussion of topics like gross national product, level of employment, national income, general level of prices, total expenditures, etc. Three Basic Economic Problems Because of scarcity, every economy has to face three basic economic problems : A. WHAT to produce Since we do not have enough resources, we have to decide what types and what quantities of goods are to be produced.

B. How to produce To economize the scarce resources, i.e. to produce the maximum output with a given amount of resources, we have to decide what methode of production are to be employed. C. FOR WHOM to produce Since the goods services produced are not sufficient, there is a problem of how to allocate them among the people. Economic analysis- A systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints. Economic analysis takes into account the opportunity costs of resources employed and attempts to measure in monetary terms the private and social costs and benefits of a project to the community or economy. The study of forces that determine the distribution of scarce resources. Economic analysis provides insight into how markets operate, and offers methods for attempting to predict future market behavior in response to events, trends, and cycles. Economic analysis is also used by governments to determine tax rates and evaluate the financial health of the nation or state. Read more: Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market, national ownership, and many other areas of government interventions into the economy. Methodology is the systematic, theoretical analysis of the methods applied to a field of study, or the theoretical analysis of the body of methods and principles associated with a branch of knowledge. It, typically, encompasses concepts such as paradigm, theoretical model, phases and quantitative or qualitative techniques.[1] The Functions of economic theory are: - cognitive - reveals itself in studying of the economic laws, the methods of economic activity, without which is impossible all other types of vital activity; - methodological - is the science of development of the methods, ways scientific instrument, required for investigations all economic sciences; - practical - is a direct ensuring of economic policy, production management on macro- and microeconomic levels; - world outlook function - is a forming scientific economic way of thinking. Microeconomics is vital, therefore, in establishing pricing for goods and services. For example, a micro-economical study into how much consumersare willing to spend on apples will tell companies how to price their apples to get the largest amount of profit for each apple without pricing the apple so highly that consumers are put off by the price. Microeconomics should not be restricted to monetary value either as an analysis on the spending of time or resource could also be described as economics. This is because theallocation of resources to a particular subject would say a lot about the priorities of a consumer or company.

Microeconomics is used to analyze the success or failure of specific markets as its analysis could show the reasons for spending patterns. To characterize microeconomics it would therefore be correct to state thatmicroeconomics is, by definition, analytical as it is the analysis of spending. It could also be characterized or described as the study of behavior as it looks at the patterns and behaviors of households and companies and the process by which they make decisions.

To summarize, microeconomics can be characterized as behavioral andanalytical by definition.

In economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified framework designed to illustrate complex processes, often but not always using mathematical techniques. Frequently, economic models posit structural parameters. Structural parameters are underlying parameters in a model or class of models.[1] A model may have various parameters and those parameters may change to create various properties. Methodological uses of models include investigation, theorizing, fitting theories to the world.[2]

Stochastic models are formulated using stochastic processes. They model economically observable values over time. Most ofeconometrics is based on statistics to formulate and test hypotheses about these processes or estimate parameters for them. A widely used bargaining class of simple econometric models popularized by Tinbergen and later Wold are autoregressive models, in which the stochastic process satisfies some relation between current and past values. Examples of these are autoregressive moving average models and related ones such as autoregressive conditional heteroskedasticity (ARCH) and GARCH models for the modelling of heteroskedasticity.

Non-stochastic models may be purely qualitative (for example, models involved in some aspect economics is undoubtedly of social choice theory) or quantitative (involving rationalization of financial variables, for example with hyperbolic coordinates, and/or specific forms of functional relationships between variables). In some cases economic predictions in a coincidence of a model merely assert the direction of movement of economic variables, and so the functional relationships are used only stoical in a qualitative sense: for example, if the price of an item increases, then the demand for that item will decrease. For such models, economists often use two-dimensional graphs instead of functions.

Qualitative models Although almost all economic models involve some form of mathematical or quantitative analysis, qualitative models are occasionally used. One example is qualitative scenario planning in which possible future numbered events are played out. Another example is non-numerical decision tree analysis. Qualitative models often suffer from lack of precision.