Economics

Economic integration is the unification of economic policies between different states through the partial or complete abolition of tariffs and the imposition of duty-free restrictions…

A devaluation is a tool used by the monetary authorities to improve the country’s trade balance by increasing exports at a time when trade deficits…

Microeconomics is a branch of the economy that studies the behavior of individuals and firms in decision making regarding the allocation of scarce resources and…

Economic growth is the increase in the production of economic goods and services from one period to another. It is conventionally measured as the percentage…

In case the number of firms is small and the action taken by one firm is followed by rival firms in the market, it is…

Monopolistic competition is a form of imperfect competition where many competing producers sell products that are differentiated from one another. In monopolistic in the short…

In a perfectly competitive market the market demand curve is a downward sloping line, reflecting the fact that as the price of an ordinary good…

Economists assume that there are a number of different, buyers and sellers in the marketplace. This means that we have competition in the market, which…

The marginal productivity theory was first stated by Von-Thunen. The theory has beers developed by Wick steed Walrus J.B. Clark and many others. Statement of…

Price discrimination is the practice of charging a different price for the same good or service. There are three types of price discrimination — first-degree,…