Economics 15 min read
Market Failures, Public Goods, and Externalities
Introduction Definitions and Basics ● Definition: Market failure, from Answers.com ● An economic term that encompasses a situation where, in any given market,…
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Economics 5 min read
Roles of Government
Introduction Definitions and Basics ● Public Goods and Externalities, from the Concise Encyclopedia of Economics ● Most economic arguments for government intervention are…
General Concepts 2 min read
What is a Pitot Tube or Total Pressure Probe
A probe is a device used for point pressure measurement in a flowing fluid. This point measurement of pressure is…
Economics 8 min read
Fiscal Policy
Definitions and Basics ● Fiscal Policy, from the Concise Encyclopedia of Economics ● Fiscal policy is the use of government spending and taxation…
Economics 2 min read
Economic exchange
Economic behaviour involves the exchange of one scarce resource for another. When people engage in paid work, they exchange their…
Economics 10 min read
Income Inequality
Definitions and Basics ● Robert Frank on Inequality , podcast on EconTalk. November 15, 2010 ● Robert Frank of Cornell University talks with…
General Concepts 4 min read
How to Measure Flow Using Orifice Meter
In this post, i am interested in covering the details about how to measure flow using Orifice meter. And i…
Economics 15 min read
Income Distribution
Introduction ● Income distribution refers to four different topics in economics. See also the related College Economics Topic, Income Inequality. When you…
General Concepts 2 min read
What is Cathode Ray oscilloscope?
In studying the various electronic, electrical networks and systems, signals which are functions of time, are often encountered. Such signals…
Economics 9 min read
Economic Development
Introduction Definitions and Basics ● Third World Economic Development, from the Concise Encyclopedia of Economics ● The development experiences of Third World countries since…
Economics 7 min read
Productivity
Introduction Definitions and Basics ● Productivity, from the Concise Encyclopedia of Economics ● Productivity—the amount of output per unit of input—is a basic yardstick…
