Economics
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…
August 19, 2021 · Prabhu TLEconomics
Economics
Roles of Government
Introduction Definitions and Basics ● Public Goods and Externalities, from the Concise Encyclopedia of Economics ● Most economic arguments for government…
August 19, 2021 · Prabhu TLEconomics
Fiscal Policy
Definitions and Basics ● Fiscal Policy, from the Concise Encyclopedia of Economics ● Fiscal policy is the use of government spending…
August 19, 2021 · Prabhu TLEconomics
Economic exchange
Economic behaviour involves the exchange of one scarce resource for another. When people engage in paid work, they…
August 19, 2021 · Prabhu TLEconomics
Income Inequality
Definitions and Basics ● Robert Frank on Inequality , podcast on EconTalk. November 15, 2010 ● Robert Frank of Cornell University…
August 19, 2021 · Prabhu TLEconomics
Profit
Introduction ● Profits, from the Concise Encyclopedia of Economics ● Capitalists earn a return on their efforts by providing three productive…
August 19, 2021 · Prabhu TLEconomics
Income Distribution
Introduction ● Income distribution refers to four different topics in economics. See also the related College Economics Topic, Income Inequality.…
August 19, 2021 · Prabhu TLEconomics
Economic Development
Introduction Definitions and Basics ● Third World Economic Development, from the Concise Encyclopedia of Economics ● The development experiences of Third World…
August 19, 2021 · Prabhu TLEconomics
Productivity
Introduction Definitions and Basics ● Productivity, from the Concise Encyclopedia of Economics ● Productivity—the amount of output per unit of input—is a…
August 19, 2021 · Prabhu TLEconomics
Environmentalism
Introduction Definitions and Basics ● Natural Resources, from the Concise Encyclopedia of Economics ● The earth’s natural resources are finite, which means…
August 19, 2021 · Prabhu TL