Report on Fandamentals and Origin of Economics

FUNDAMENTALS OF ECONOMICS AND MARKETING

What Economics is all about and where did it originate from? This was the first question asked by Arjun sir to every one of us , to which none of us had an exactly correct answer.... :)
SOCIAL SCIENCE was the word he actually was lookin for. ECONOMICS originated from Social Science, which was also the origin of Human Society Development, which then gave birth to MARKETING.
HE told us about what actually Social Science is made up of. Social Science basically has 3 aspects:

1. Institutions
2. Relationships
3. Ideas

Sir also discussed about "CONCESSION"

WHAT IS CONCESSION?

Concession is a way through which both, the PUBLIC SECTOR and the PRIVATE SECTOR earn profit by working together on a particular project, under certain rules and regulations.

Under ECONOMICS he discussed various topics like:

1. PRODUCTION
2. DISTRIBUTION
3. EXCHANGE
4. CONSUMPTION

Sir also told us about the different types of Consumers, which are as follows:

1. Individual
2. Group
3. Business
4. Government

In the last I just want to mention 1 thing which actually was quite surprising:

ARJUN SIR DID NOT, EVEN FOR A SINGLE MINUTE, BEHAVE LIKE HE ACTUALLY DOES........ :):)....... HE WAS NOT AT ALL STRICT THAT DAY :):)

THANK YOU