Should I reject the only offer I have?

I am a fresher and a final year Computer Science student who has just one job offer in hand which is offering a very low salary already and about a month before joining the company as an intern I have been informed that I will be working on embedded systems technology and not on frontend nor backend (these 3 are the only options available).

Or should I just keep this as a source of income for some time and search for some other job till then.. but again I have a service agreement with this company of about 22Months after joining of approximately $1850.

Also keeping in mind that recession is about to hit in my country.(or maybe)
These all things together are making me go crazy with all my choices and I am not able to see what should I be doing in my career anymore.
P.S. I know front-end and back-end developement. But have no clue what embedded systems is.

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