Economics

Modern monetary theory aims to explain and analyze modern economies where the national currency is usually fiat money, established and created exclusively with the government.…

Marginal Utility is the additional satisfaction a buyer gains from consuming an additional unit of a great or service. Marginal utility can be an important…

Price mechanism refers to the structure where the forces of demand and supply establish the prices of merchandise and the changes therein. It is the…

Macroeconomics is the field of economics that studies the behavior from the aggregate economy. Macroeconomics examines economy-wide phenomena for example changes in joblessness, national income,…

Microeconomics is a branch of economics that analyzes the marketplace behavior of personal consumers and firms in an attempt to understand the decision-making technique of…

Monopolistic competition fluctuates from ideal competition in that invention does not take place at the lowest feasible cost. Because of this, firms are left with…

Neoclassical Economics is a technique for economics that relates supply and demand to an individual’s rationality and their ability to maximize energy or profit. Neoclassical…

Productive efficiency is apprehensive with producing goods and services with the finest arrangement of inputs to make utmost output for the lowest cost. Productive efficiency…

Nash Equilibrium is an assumption of game theory where the finest outcome of a game is one where no player has an enticement to depart…

Pareto Efficiency is an economic situation where property is allocated in the most proficient approach. Pareto efficiency is obtained when a allocation approach exists where…

The aim of this article is to describe state ownership in economics point of view. State ownership might reference state ownership or maybe control of…

Allocative efficiency is achieved if the value consumers place on a good or perhaps service equals the price of the resources utilised in production. Condition…