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.
Meaning of consumer's equilibrium - assumptions - budget line or price line - indifference map - necessary conditions for consumer's equilibrium - deriving consumer's equilibrium graphically
The law of equi-marginal utility or Gossen's second law explains how a consumer allocates his income among various commodities for getting maximum satisfaction.
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
The BNA sees poverty in terms of consumption deprivation. But the capabilities approach looks at poverty in terms of deprivation of opportunities related to lifestyles people value.
This article takes an academic approach to answering frequently asked questions about the Great Recession of 2007-2008.
We've all heard the terms Supply & Demand before, but how much do you really know about one of the fundamental principals of economics? In this article, we'll cover the basics everyone needs to know.
This case examine the implications of the merger of Pepsi Co. and Quaker Oats Company for the rivalry between Coca-Cola Co. and PepsiCo, and for value creation by each firm.
The law of supply states the functional relationship between price and the quantity offered for sale. At higher prices, more sellers are interested in producing the product, and each existing seller..
Acknowledging the time value of money empowers people to make better financial decisions and become better savers and investors.
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?