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
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
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
Forward Premium and Discount: MeaningWe use forward premium and discount terminologies for forward contract transactions in the foreign exchange markets. In the currency market,… Read Article
Market, in economics, refers to market structures that are different from each other on the basis of degree and nature of competition. A number… Read Article
What is a Capitalist Economy?A Capitalist Economy or Capitalism is an economic system where private individuals and businesses have the ownership and command of… Read Article