General Concepts 4 min read
What is Elasticity?
Till now we only discussed the direction of the changes in price and quantities demanded. But here we will answer…
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General Concepts 3 min read
Central Problems of an Economy
Central problems arise in an economy due to scarcity of resources having alternative uses in relation to unlimited wants. The…
General Concepts 3 min read
Types of goods
Normal goods – the quantity demanded of such commoditiesincreases as the consumer’s income increases and decreases as the consumer’s income decreases. Such goods…
General Concepts 3 min read
What is a Market?
Market A market is a place where buyers and sellers meet and interact. In today’s internet era, buyers and…
General Concepts 3 min read
Equilibrium Price
Equilibrium Price refers to the the market price at which the supply of an item equals thedemand of it. equilibrium…
General Concepts 3 min read
Change in Demand and Increase/Decrease in quantity demanded
Movement and Shift in the Demand Curve Other things being equal, Demand of a commodity has a negative relationship with…
General Concepts 2 min read
Supply
Definition Supply of a commodity can be defined as the amount of goods that producers are willing to supply…
General Concepts 3 min read
Market Demand
Market demand composes of the sum of the demand made by all the people in market. Suppose there are…
General Concepts 4 min read
What is Economics?
Economics is the study of an economy. An economy can be a small household economy, a business economy, a…
General Concepts 2 min read
Bureau of Economic Analysis – BEA
DEFINITION of ‘Bureau of Economic Analysis – BEA’ The Bureau of Economic Analysis is a division of the U.S. federal…
General Concepts 4 min read
Fixed Income
What is ‘Fixed Income’ Fixed income is a type of investment in which real return rates or periodic income is…
General Concepts 3 min read
Inflation & ITS Control Measures
Inflation In economics, inflation means rise in the general level of prices of goods and services over a period of…
