What is Price Rise When the Government Prints too Much Money”?“Prices rise when the government prints too much money” is the ninth principle of… Read Article
What is “Governments Can Sometimes Improve Market Outcomes”?Eminent economist N. Gregory Mankiw gave us ten principles of economics in his famous book ‘Principles of… Read Article
Markets are Usually a Good Way to Organize Economic Activity“Markets are usually a good way to organize economic activity” is the sixth principle out… Read Article
Trade-off Between Inflation and Unemployment: ExplanationInflation and unemployment are among the most crucial economic indicators. Moreover, what makes the two even more important is… Read Article
What is “Principle 5: Trade can Make Everyone Better Off”?“Principle 5: Trade can make everyone better off” is the fifth principle out of the… Read Article
Utility in economics means the satisfaction that a user gets from consuming a product or service. Different users can get varying levels of utility… Read Article
What is Principle 4: People Respond to Incentives?Eminent economist Mr. N. Gregory Mankiw gave us ten principles of economics in his famous book “Principles… Read Article
What is ‘Principle 3: Rational People Think at the Margin’?‘Rational people think at the margin’ is the third principle of the ten principles that… Read Article
What is Principle 1: People face Trade-offs?Eminent macroeconomist N. Gregory Mankiw gave us ten principles of economics in his book “Principles of Economics.” The… Read Article
In economics, the circular flow model shows how money, as well as goods and services, flow between different sectors in an economy. This flow… Read Article
The Four Sector Circular Flow Income Model is the most realistic one under the current world conditions. In our earlier discussions, we have seen… Read Article