Economics
Insurance
Introduction Definitions and Basics ● Insurance, from the Concise Encyclopedia of Economics ● Insurance plays a central role in the functioning of…
August 19, 2021 · Prabhu TLEconomics
Economics
Employment and Unemployment
Introduction Definitions and Basics ● Unemployment, from the Concise Encyclopedia of Economics ● Each month, the federal government’s Bureau of Labor Statistics…
August 19, 2021 · Prabhu TLEconomics
Business Cycles
Introduction Definitions and Basics ● Business Cycles, from the Concise Encyclopedia of Economics ● The United States and all other modern industrial…
August 19, 2021 · Prabhu TLEconomics
Aggregate Demand
Introduction Definitions and Basics ● Keynesian Economics, from the Concise Encyclopedia of Economics ● Keynesian economics is a theory of total spending…
August 19, 2021 · Prabhu TLEconomics
Aggregate Supply
Introduction Definitions and Basics ● Aggregate Supply, at Answers.com ● The total supply of goods and services produced within an economy…
August 19, 2021 · Prabhu TLEconomics
The role of the professional economist
Professional economists apply their skills of description, analysis, model building, and prediction to generate knowledge and, from this,…
August 19, 2021 · Prabhu TLEconomics
Supply
Introduction Definitions and Basics ● Supply, from the Concise Encyclopedia of Economics ● The most basic laws in economics are the law…
August 19, 2021 · Prabhu TLEconomics
Demand
Introduction ● The word “demand” refers to what you want. Of course, you can’t always get what you want.…
August 19, 2021 · Prabhu TLEconomics
Exchange and Trade
Introduction ● The words “exchange” and “trade” refer to the same activity–people who have one thing and want a…
August 19, 2021 · Prabhu TLEconomics
Division of Labor and Specialization
Introduction Definitions and Basics ● Definitions: Adam Smith, biography from the Concise Encyclopedia of Economics ● Smith saw the main cause of prosperity…
August 19, 2021 · Prabhu TL