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Ben Shalom Bernanke, Economist was born on December 13, 1953 in Augusta, Georgia, U.S. He was educated at East Elementary, J.V. Martin Junior High, and…

Thomas Southcliffe Ashton, Eonomic Historian was born on 1889 Ashton-under-Lyne, in England. He was educated at the Ashton-under-Lyne secondary school and Manchester University. He was…

Triple Bottom Line is an accounting framework that incorporates three dimensions of performance: social, environmental and financial. It focus on the financial bottom line by…

Subsistence Agriculture is a system, which intended to provide a self-sufficient lifestyle for the farmer and family. Preindustrial agricultural peoples throughout the world have traditionally…

Saving is the process of amount, where money left over after spending. It consists of the amount left over when the cost of a person’s…

Returns to Scale is the variation or change in productivity that is the outcome from a proportionate increase of all the input. It focus only…

Real Business Cycle Theory are explains short-run economic fluctuations based on the assumptions of the classical theory. It is involve phases of high or even…

Rational Expectations is suggests that the current expectations in the economy are equivalent to what people think the future state of the economy will become.…

Network Effect is that a single person using a good or a service has on the total perceived value of that product or service for…

Velocity of Money is the rate at which money circulates, changes hands, or turns over in an economy in a given period. It is usually…

The Experience Economy is describe as the ‘next economy’ following the agrarian economy, the industrial economy and the most recent service economy. Authors Joe Pine…

This article talks about Devaluation, which improve a country’s balance of payments situation by boosting exports and reducing imports, but it worsens inflation for imported…