An isoquant is a firm’s counterpart of the consumer’s indifference curve. An isoquant is a curve that show all the combinations of inputs that yield the same level of output...
How does the Federal Reserve use interest rates to control the economy, and how do these changing interest rates affect you as a consumer or business owner?
Income Effect on Consumer's Equilibrium - Substitution Effect on Consumer's Equilibrium - Price Effect on Consumer's Equilibrium - Derivation of Demand Curve from Price Consumption Curve
This article analyses the advantages and disadvantages of a firm’s international expansion and make some concluding recommendations.
What is GDP or GNP? How are GDP and GNP related? What is Nominal GDP and Real GDP? A short overview of these important economic concepts.
Natural wool textiles are the best fabrics used during the winter to provide warmth. In this article you will know the history of wool, characteristics of wool fibers, woolen microstructure, sheep wool types, wool manufacturing process, uses, and the good washing of wool fabrics.
Gross Domestic Product is the standard measure of how well or poorly an economy is doing. Some economists say it’s a false indicator.
Being poor is no fun; among the many negatives are bad health, exposure to crime, and lack of education.
Silk is one of the finest and most strength natural fiber. In this article, you will know the history of natural silk, the life cycle of the silkworm, silk types, the chemical structure of silk fiber, physical and chemical properties, and how to maintain silk fabrics.
Linen fibers are natural fibers that have a long history. In this article, you will know a brief history of flax, the microstructure of flax fiber, physical and chemical properties, flax industry, its uses and how to care for linen fabrics.
Winemaking is a multifaceted and delicate process that has transcended centuries and is enjoyed by many cultures. However, the intricate method of creating wine has both numerous positive and negative environmental, social as well as economical impacts.
Many products that used to last a lifetime now break down in a few years forcing consumers to buy a replacement.
4 Canons of taxation were first presented by Adam Smith. This articles explains the original 4 canons of taxation as well as the total 9 canons of taxation that were eventually formed later.