Economics

In economic and environmental fields, decoupling refers to an economy that would be able to grow without corresponding increases in environmental pressure. It takes place…

A legal monopoly, also known as a statutory monopoly, or de jure monopoly refers to a corporation that, under a government order, acts as a…

A monopsony is a business situation in economics in which there is only one purchaser, the monopsonist. That is the opposite of a retail situation…

Whenever a market, hypothetical or real, violates the abstract tenets of pure or ideal neoclassical competition, imperfect competition occurs in economics. Competitive markets, as the…

Demand Shaping An organization’s ability to align supply and demand is one of the most important measures of profitability. Demand shaping is the influencing of…

In economics, the GDP deflator is a measure of the level of prices of all-new, domestically produced, final goods and services in an economy in…

A consumer price index measures changes in the price level of a weighted average market basket of consumer goods and services purchased by households. It…

The term “hedonic” refers to the concept that the value of a home can be determined by looking at the value of the constituent components…

A trade union is usually an association of wage earners formed for the purpose of their mutual help and improvement of the conditions of their…

Hedonic regression is the use of a regression model to estimate the influence that various factors have on the price of a good, or sometimes…

Wage Differential A wage differential refers to the difference in wages between people with similar skills within different localities or industries. It is a term…

Comparative Statics Most of the economic theory consists of comparative statics analysis. In economics, comparative statics is the comparison of two different economic outcomes, before…