Economics 9 min read
Environmentalism
Introduction Definitions and Basics ● Natural Resources, from the Concise Encyclopedia of Economics ● The earth’s natural resources are finite, which means that if…
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General Concepts 3 min read
U-tube Manometer with equal unequal limb types
Description of manometer: This is the most simple and precise device used for the measurement od pressure. It consists of…
Economics 12 min read
Productive Resources
Introduction ● A resource is something we rely on or use to accomplish a goal. If you are trying to read…
Economics 9 min read
Globalization, Interdependence, and Local Trade
Introduction Definitions and Basics ● Interdependence and the division of labor: I, Pencil, by Leonard Read. ● Simple? Yet, not a single person on the…
Economics 2 min read
Human Capital
Introduction Definitions and Basics ● Human Capital, from the Concise Encyclopedia of Economics ● To most people capital means a bank account, a hundred…
General Concepts 2 min read
How to Measure Flow using Magnetic Flow Meter
Basic principle: When a flowing conducting fluid is subjected to a transverse magnetic field, the flowing conducting fluid cuts…
Economics 5 min read
Saving and Investing
Introduction Definitions and Basics ● Saving, from the Concise Encyclopedia of Economics ● Saving means different things to different people. To some it means…
Economics 2 min read
Positive and normative economics
As a social science, economics attempts to use the principles and methods of science to explain economic behaviour. This involves…
Economics 12 min read
Financial Markets
Introduction Definitions and Basics ● Stock Market, from the Concise Encyclopedia of Economics ● The price of a share of stock, like that of…
Economics 5 min read
Foreign Currency Markets and Exchange Rates
Introduction Definitions and Basics ● Foreign Exchange, from the Concise Encyclopedia of Economics ● The foreign exchange market is the market in which foreign…
