Some life lessons that are worth learning from economics

You certainly would have heard about economics as the science of money which is true to some extent but not completely. Economics is a way to grow, a way to unite, a way to create equality and a way to make this world a better place to live. There are some tremendously appreciative concepts that will make your jaw drop to the ground. 

1. The theory of price mechanism - It is sometimes referred to as an invisible hand of a market which believes in equilibrium or, in common words, peace. Buyers and sellers come to an agreement on when to buy and sell their goods and services at a certain price level, but sometimes, there are shortages (higher demand than supply which drastically increase the prices)  or surpluses (higher supply than demand which deflate the prices) in the market. But, this invisible hand automatically comes to an equilibrium without the government's intervention to fix it. Likewise, when we have disagreements with someone, we should just give some time so that all the shortages and surpluses come to an equilibrium effortlessly.

2. One currency’s depreciation is always another currency’s appreciation- Let’s take an example- $1= 81 rupees, this means that $1 can buy 81 rupees. But why more rupee for a dollar? This is because rupees have depreciated against US dollars over the years. But what is the learning? Well,  if you are having a healthy and a beaming life (appreciating), there are people who are starving and living in pathetic conditions (depreciating)  so we must be grateful for such euphoric circumstances we are living in. There could have been someone else in our circumstance but we are here instead of him so we must keep value of that. 

3. Too much reliance on a country is harmful - In the world of international trade, countries import and export from each other for the benefit of their own citizens. Sometimes a country is totally dependent on the other country for example exports which have proved to be  advantageous for some time since a large order is coming from a country but could be twice as precarious potentially. This is because if the importing country just stops importing, it could lead to a huge economic downfall for the exporting country. To be more clear, we must not be too dependent on others for our own good. If we do so, it will be extremely difficult in the long run. The ship of heaven guides itself and will not accept any wooden rudder.