Economics

What do we mean by Dumping? Dumping is a practice in international trade that takes place with importing and exporting goods. It occurs when… Read Article

Anti Dumping Duty is a protectionist tariff that a country uses to protect the domestic industry from cheaper foreign goods. A country imposes this… Read Article

What are Assumptions, and Why do Economists Make Them?Assumptions are statements that we universally accept as a fact without questioning their validity. And we… Read Article

Absolute advantage refers to the ability of a person, firm, or nation to produce more of a product with the same amount of resources… Read Article

What do we mean by Economics as a Science and an Art? “Is Economics a Science or an Art?” is one of the most… Read Article

Reverse Causality refers to the direction of the cause-and-effect relationship between the two variables. This relationship, however, is the opposite of the common presumption… Read Article

“Think like an Economist” – Why? One should sometimes ” Think Like an Economist ” to understand and appreciate the various policies and regulations… Read Article

Meaning of Public Debt Public debt is the sum total of the borrowings of the Central/Federal government of a country. We also call it… Read Article

Meaning of Circular-Flow Diagram Model A Circular-flow diagram model is an economic visual model of macroeconomics that represents the movement of goods, services, and… Read Article

Positive vs Normative Economics: Meaning Positive vs Normative Economics are two branches of modern economics. The first one, Positive economics, is built upon facts… Read Article

Ten Principles of Economics Economics is the study of how to make the best possible use of the available resources, such as capital, labor,… Read Article