Economics DictionaryFactors that Shift the Demand Curve: An OverviewIn economics, the demand curve is a graphical representation of the relationship between the price of a good and the quantity of the good…Feb 7, 2023Feb 7, 2023
Economics DictionaryOligopoly Examples in Real LifeIt’s important to understand the principles of oligopoly when trying to solve real life problems. There are several examples that show…Jan 27, 2023Jan 27, 2023
Economics DictionaryProblems Faced by Large Scale IndustriesLarge Scale Industries contribute immensely towards the development of the economy. They provide employment opportunities to a huge number…Jan 12, 2023Jan 12, 2023
Economics DictionaryExamples of Capitalist EconomiesA capitalist economy is an economic system characterized by private ownership of factors of production. Capitalist economies involve less…Dec 21, 2022Dec 21, 2022
Economics DictionaryExamples of Macroeconomics in Real LifeGetting a grasp on macroeconomics is important to make good financial decisions. It’s a study of the whole economy, and it includes factors…Nov 30, 2022Nov 30, 2022
Economics DictionaryKeynes Psychological Law of ConsumptionA key part of Keynes’ Psychological Law of Consumption theory is the relationship between income and consumption. This law is also called…Nov 4, 2022Nov 4, 2022
Economics DictionaryElasticity of Demand and Its ApplicationsElasticity of demand is the concept that a change in price affects the demand for a specific good. Higher incomes are more able to purchase…Oct 27, 2022Oct 27, 2022
Economics DictionaryThe Concept of Economic Reforms in 1991The concept of economic reforms can be summarized in four different categories: privatization, liberalization, and devaluation. The concept…Oct 10, 2022Oct 10, 2022
Economics DictionaryKeynesian Theory of IncomeThe Keynesian Theory of Income describes the relationship between national income and unemployment. It states that when an economy…Sep 8, 2022Sep 8, 2022
