Total Factor Productivity
What is Total Factor Productivity?
Total factor productivity is a measure of efficiency and extent of the utilization of inputs in a production process.… Read Article
Economics
Effects of Stagflation
Meaning and Definition
Stagflation is an economic situation where an economy faces a combination of inflation and a stagnant economy. Inflation refers to an… Read Article
How Does Elasticity Work?
Elasticity is a vital concept in economics and finance. It basically tells about the impact of a change in one variable because of a… Read Article
Why Must Marginal Utility be Equal to Price?
Marginal Utility is the extra or additional utility or satisfaction that a user gets after consuming one more unit of a commodity. The concept… Read Article
What are the Types of Elasticity?
Elasticity, in general, is the responsiveness of one variable due to a change in a different variable. In economics, the concept of elasticity helps… Read Article
Causes of Emergence of Monopoly Market
A monopoly market is a structure with just one seller and many buyers. The seller that operates in this market is called a monopolist,… Read Article
Monopoly Market – Meaning, Features, Examples, Pros, and Cons
A monopoly market is a market where there is just one seller of goods and services to the public. Such a market is the… Read Article
Demand Function – Meaning, Types, Formula, and Graph
What is Demand Function?Demand Function shows the relation between the demand and its determinants. Basically, it is a mathematical equation that shows how a… Read Article
Law of Equi Marginal Utility – Meaning, Assumptions, and Importance
Law of Equi Marginal Utility helps to explain consumer behavior in the case of more than one good or service. There is no limit… Read Article
Why Does Demand Curve Slope Downward?
To know why a demand curve slopes downwards, we need to have a basic understanding about the demand curve. So, let’s understand the demand… Read Article
Demand Schedule – Meaning, Types, Importance, and Example
A demand schedule is a table that depicts the relationship between a price and the quantity demanded for a commodity or service. Or, we… Read Article