Economics Inflation – Unemployment Trade-off — Introduction 12 May 2020 Inflation - Unemployment Trade-off --- Introduction Inflation and Unemployment - Keynesian Model of Economy - In simple Keynesian model of economy, the aggregate supply curve (with variable price level) is…
Economics Median – Measure of Central Tendency 11 May 2020 Median - Median is defined as the middle value of the series when arranged either in ascending or descending order. It is denoted by 'M'. M = [(N+1)/2] th item.…
Economics Keynes’s Theory of Business Cycles 10 May 2020 Keynes's Theory of Business Cycles John Maynard Keynes was an British economist. He wrote book 'General Theory of Employment, Interest and Money' in 1936. According to Keynes's theory, in the…
Economics… Economics Terms Series Part 7 – Wealth, Salary, Utility, Miscellaneous 9 May 20209 May 2020 WEALTH The stock of financial and non-financial assets a person or a household owns that have monetary value. SALARY An annual rate of pay, often paid to employees in professional…
Economics Business Cycles – Theory of Over-Investment 8 May 2020 Theory of Over-Investment - It has been observed that over time investment varies more than that of the total output of final goods and services and consumption. This has led…
Economics Business Cycles – Theory of Under Consumption 7 May 2020 Theory of Under Consumption is also one of the oldest theory of business cycles, it was given in the 1930s. Malthus and Sismodi criticized Say's Law which states that 'Supply…
Economics… Economics Terms Series Part 6 – Assets, Revenues, Capitals, Sectors, Diseconomies, Population, Merger, Miscellaneous 6 May 2020 PHYSICAL ASSETS Non-financial assets or physical products, such as commercial and residential properties, that have value and therefore contribute to wealth. FINANCIAL ASSETS Non-physical assets, such as bank deposits, shares,…
Economics Business Cycles – Hawtrey’s Monetary Theory of Business Cycles 5 May 2020 R.G. Hawtrey's Monetary Theory of Business cycles is based on the Gold Standard Economy. An economy is said to be under gold standard when either money in circulation consists of…
Economics Business Cycles – Sun Spot Theory of Business Cycles 4 May 2020 Sun Spot Theory Sun Spot Theory of Business Cycles was developed in 1875 by Stanley Jevons. This is one of the oldest theory of business cycles. Sun Spots are storms…
Economics… Economics Terms Series Part 5 – Trade, Trade Barriers, Balance of Payments, Stock Market, Stock Exchange, Shares 2 May 20203 May 2020 TRADE The exchange of goods and services, usually for money. INTERNATIONAL TRADE The movement and exchange of physical goods such as materials, component parts, equipment and finished products as well as…
Economics… Economics Terms Series Part 4 – Types of Taxes, Types of Rates, Boom, Recession, Recovery, Growth 1 May 20203 May 2020 PERSONAL INCOME TAX A direct tax on a person’s earnings or income. CORPORATE INCOME TAX A tax on company profits. DIRECT TAX A tax levied on the incomes or wealth…
Economics… Economics Terms Series Part 3 – GDP, Factors of Production, Market, Contrary Miscellaneous 30 Apr 20202 May 2020 APPRECIATION (in the value of a currency) A rise in the rate at which a national currency can be exchanged for another currency or currencies, i.e. a rise in the…
Business… Economics Terms Series Part 2 – Profit, Cost, Budget, Employment, Unemployment, Externality 29 Apr 20203 May 2020 PROFIT A surplus of revenue from the sale of outputs over the costs of their production. LOSS A situation of generating revenue less than cost of production. ABNORMAL PROFIT The…
Business… Economics Terms Series Part 1 – Demand, Supply, Policy, Inflation, Deflation, Import, Export, Wage, Returns to Scale, Economies of Scale 28 Apr 20202 May 2020 ABSOLUTE ADVANTAGE The ability of a country or region to produce a good or service at a lower average cost per unit than any other country or region is able…
Economics… National Income – Limitations of using GDP as an Index of Welfare of a Country 27 Apr 20202 May 2020 # Limitations of using GDP as an Index of Welfare of a Country @ Many goods an services contributing economic welfare are not included in GDP or Non-Monetary Exchanges -…
Business… Business Cycles – Phases of Business Cycles 25 Apr 20202 May 2020 According to Parkin and Bade - “The business cycle is the periodic but irregular up-and-down movements in economic activity measured by fluctuations in real GDP and other macroeconomic variables. A…
Business… Business Cycles – Concept and Features 24 Apr 20202 May 2020 Business Cycle - It is a natural phenomenon of expansion and contraction in the production levels over a period, It is natural and happens with every business and every economy.…
Economics… National Income – Concept – Part 2 23 Apr 20202 May 2020 Real & Nominal Concepts # Real National Income or National Income at Constant Price - When the national income is calculated on the basis of base year price index, then…
Economics… National Income – Concept – Part 1 22 Apr 20202 May 2020 Before we start we need to understand some basic concepts of Income Gross - Whenever we say Gross it means we are including Depreciation to the value of the product.…
Economics… Different Types of Goods in Economy 21 Apr 20202 May 2020 Normal Goods - A normal good is a good whose demand increases with increase in income, and demand decreases when income decreases. It has a direct relationship with income. It…
Business… Market Failure – All That You Want To Know 20 Apr 20202 May 2020 What is Market Failure ? Market is a structure that allows buyers and sellers to exchange any type of goods, services or information. The exchange of goods or services, with…
Business… Oligopoly – It Takes Large Resources To Enter In 16 Apr 20202 May 2020 The term oligopoly has been derived from two Greek words, oligoi means few and poly means control. According to Prof. George J. Stigler, “Oligopoly is a market situation in which…
Business… Monopoly – The Power Player 15 Apr 20202 May 2020 The term monopoly has been derived from a Greek word Monopolian, which means a single seller. Monopoly market is the extreme opposite of Perfect Competition. According to Prof. Thomas, “Broadly,…
Economics… Perfect Competition – Explanation & Features 14 Apr 20202 May 2020 We have briefly explained it in our "Market - Concept & Types A Brief Introduction" post, but for those who missed that, here is the complete details of the topic.…
Business… Monopolistic Competition – Explanation & Real Life Applications 13 Apr 20202 May 2020 We have briefly explained it earlier in our previous post. But in case for those who haven't read that we will discuss it from the Theory to the the Real…
Economics… Market – Concept & Types – A Brief Introduction 12 Apr 20202 May 2020 Concept of Market For an individual it would mean a shopping complex or a place where he/she can buy things. But, in economics, the concept of market is very different…
Business… Rich Vs Poor in Hard Time’s of Economy 9 Apr 20202 May 2020 Today we will be talking about how the hard times affects the people with different income levels in society, The Riches, The Poor's & The Middle Class. Before we start…
Economics Statistics – Measures of Central Tendency – Geometric Mean & Harmonic Mean 8 Apr 202011 Apr 2020 Geometric Mean - Geometric Mean of a set of n observations is the nth root of their product. It is denoted by G.M. If we have two observations, then their…
Economics Statistics – Measures of Central Tendency – Arithmetic Mean 7 Apr 202011 Apr 2020 What is the Measure of Central Tendency ? Measure of Central Tendency can be defined as a single value that represents the whole set of observation of data, this single…
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