When economists think about year-to-year movements in economic activity, they focus on
the interactions among production, income, and demand:
Changes in the demand for goods lead to changes in production
Changes in production lead to change
economy comes from the Greek word for one who manages a household.
Economics is the study of how society manages its scarce resources.
Economists therefore study how people make decisions: how much they work, what they
buy, how much they save,
GROSS DOMESTIC PRODUCT (GDP)
Kira (2013) described Gross Domestic Product (GDP) is based on the total market value of
all finals goods and services produced within the country at a given period of time, it is one
of the measures of the national income and
TABLE 1 STANDARD ERROR, COEFFICIENT OF VARIATION, AND 95% CONFIDENCE INTERVAL FOR ESTIMATES OF
EMPLOYMENT RATES BY REGION AND BY PROVINCE: APRIL 2015