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January 20, 2021

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Economics City
Economics City
  • Intermediate
    • Intermediate Part I
    • Intermediate Part II
  • Bachelors
    • B.Com
      • B.com Part-I
        • Economics
      • B.com Part-II
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      • B.A & B.Sc – I
        • Basic Math and Microeconomics
      • B.A & B.Sc – II
        • Macro and Development of Pakistan
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Economics

How do we measure utility or pleasure?

January 1, 2021
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15 Views

This question cannot be answered but back in the 1800s economists such as Jeremy Bentham thought that eventually they would be able to measure pleasure by...

Economics

Relationship Between Total Utility and Marginal Utility

December 13, 2020
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135 Views

Total utility refers to the total satisfaction one gets from one’s consumption of a product while marginal utility refers to the satisfaction one gets...

Economics

Utility: Meaning and Different Aspects of Utility

December 9, 2020
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171 Views

Utility: When we consume a product, we in fact use its utility. Therefore, we are now analyzing the concept of utility. Utility is the power of a product by...

Economics

Utility: Meaning and Characteristics of Utility

November 24, 2020
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213 Views

Utility: An early introduction of the utility notion into social sciences was accomplished by the English Philosopher Jeremy Bentham (1748-1831) After studying...

Statistics For Economists

Measurement Scales: Nominal, Ordinal, Interval and Ratio

November 13, 2020
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187 Views

Measurement Scales: By measurement, we usually mean the assigning of numbers to observations or objects and scaling is a process of measuring. The four scales...

Economics

Goods and Types of Goods in Economics

November 9, 2020
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29 Views

Goods: A good is a material thing used to satisfy a human want or in other words, a good is a material thing which has utility to satisfy any human want. For...

Economics

Difference between Goods and Services

November 9, 2020
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19 Views

In order to satisfy unlimited wants people take up economic activities in the form of land, labour, capital and organization. As a result of the combination of...

Economics

Human Wants: Meaning, Types and Their Characteristics

November 7, 2020
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38 Views

Human Wants: Human wants are the ends which human beings pursue for their satisfaction. Human wants are the instinctive desires which are however to be...

Books

Managerial Economics by William F. Samuelson and Stephen G. Marks

October 20, 2020
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617 Views

DESCRIPTION Samuelson & Marks’ Managerial Economics, 7th Edition provides a detailed introduction to managerial economics for undergraduates, MBAs, and...

Books

Research Methods For Business: A Skill Building Approach by Uma Sekaran

October 19, 2020
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374 Views

DESCRIPTION Research Methods for Business: A Skill-Building Approach is a concise and straightforward introduction for students to the world of business...

Books

International Trade: Theory and Policy by Paul R. Krugman & Maurice Obstfeld

October 17, 2020
1 Comment
1,222 Views

Description International Trade: Theory and Policy provides engaging, balanced coverage of the key concepts and practical applications of the discipline. An...

Books

International Economics: Trade and Finance by Dominick Salvatore

October 16, 2020
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1,012 Views

DESCRIPTION International Economics by Dominick Salvatore, presents a comprehensive, up-to-date, and clear exposition of the theory and principles of...

Books

Macroeconomics by Andrew B. Abel and Ben S. Bernanke

October 1, 2020
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789 Views

Description Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares students to analyze real macroeconomic data used by policy makers...

Economics

Difference Between Value and Price

September 28, 2020
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96 Views

Value: In Economics, the value of a product is taken in two senses. (i) Value-in-use. (ii) Value-in-exchange. The utility of a product which one gets to...

Books

Economics of Money, Banking, and Financial Markets by Frederic Mishkin

September 28, 2020
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691 Views

The Economics of Money, Banking, and Financial Markets set the standard for money and banking courses when it published in its first edition, and it continues...

Books

Public Finance: A Contemporary Application of Theory to Policy by David Hyman

September 24, 2020
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781 Views

In this upper-level undergraduate text, David Hyman delivers a solid economics-oriented approach to public finance and public policy. The 10th edition of...

Books

Basic Econometrics by Damodar N. Gujarati

September 19, 2020
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743 Views

Gujarati and Porter’s Basic Econometrics provides an elementary but comprehensive introduction to econometrics without resorting to matrix algebra...

Books

Introduction to Econometrics by G. S. Maddala and Kajal Lahiri

September 17, 2020
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1,451 Views

DESCRIPTION: Maintaining G.S. Maddala’s brilliant expository style of cutting through the technical superstructure to reveal only essential details, while...

Development Economics

Economic Growth vs Economic Development

September 5, 2020
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331 Views

Economic Growth: Economic growth may be distinguished from economic development. Economic growth may be defined as the increase in production or consumption by...

Development Economics

Historical Overview of World Development

September 5, 2020
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102 Views

It is commonly said that the economic development started after the year 1800. In this respect Angus Maddison who was an economic historical analysed the world...

Development Economics

Different Definitions of Economic Development

September 5, 2020
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91 Views

There are a large number of definitions given by different economists. These are as follows: Prof. W. Elkan says, “Economic development means a process...

Development Economics

Are There Principles of Development Economics?

September 5, 2020
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80 Views

As we have already told that the economic development is neither traditional neo- classical economics, nor it is political economy it is just a body of...

Development Economics

Economics and Development Economics

September 5, 2020
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64 Views

The study of economic development is one of the newest, most dashing and most attracting branches of the broader disciplines of economics and political economy...

Development Economics

The Nature of Development Economics

September 5, 2020
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39 Views

The Traditional Economics deals basically with the efficient, least cost allocation of scarce productive resources and with the optimal growth of these...

Economics

What is meant by wealth in economics?

September 4, 2020
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254 Views

Wealth: In economic sense, any good or service that has value in exchange is called wealth. This means that any good and service that has the three...

Economics

Does Economics Relates with Goodness or Badness of Wants?

August 31, 2020
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19 Views

The classical economists were of the view that economics has no relation with the nature of wants. In other words, economics has no concern with the goodness...

Economics

Difference Between Microeconomics and Macroeconomics

August 26, 2020
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65 Views

Subject-Matter: Price determination, Consumers equilibrium, distribution and welfare are the subject-matter of microeconomics. Full employment, national...

Economics

Importance and Significance of Studying Economics

August 26, 2020
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60 Views

The importance and utility of the subject of Economics can be judged from this fact that it is now considered to be one of the most important and useful...

Economics

What is the Interdependence of Microeconomics and Macroeconomics?

August 26, 2020
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48 Views

Microeconomics and macroeconomics are interdependent. Microeconomics takes a close-up view of the economy and concentrates on the choices made by individual...

Economics

Whether Economics Can Solve Practical Problems?

August 26, 2020
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29 Views

Our satisfies maximum of his desires on priority basis. He achieves his satisfaction up to a maximum level with the help of available and alternatively used...

Economics

Is Economics A Positive Science or A Normative Science?

August 26, 2020
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66 Views

Positive Science: Positive science relates with the causes and facts about a certain problem and studied as “They are” in which a personal opinion...

Economics

Does Economics Study Human Behaviour Individually or Collectively?

August 26, 2020
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20 Views

Being a social science, economics deals with whole of the society. Therefore, instead of individual behaviour, collective economic behaviour is examined in the...

Economics

Is Economics A Science or An Art?

August 26, 2020
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191 Views

Now comes the important question of whether economics is a science or an art? Before we go to take up the question, we will first of all define what is a...

Economics

Macroeconomics: Meaning, Scope, Importance and Limitations

August 26, 2020
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238 Views

Macroeconomics / Macro Economic Analysis: The word “MACRO“. is derived from the Greek word “MAKROS“, which means large. Macroeconomics...

Economics

Microeconomics: Meaning, Scope, Importance and Limitations

August 25, 2020
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247 Views

Microeconomics / Micro Economic Analysis The word ‘MICRO‘ is derived from the Greek word ‘MIKROS‘, which means “Small”. The...

Economics

Economics: Descriptive Economics | Theoretical Economics | Applied Economics

August 24, 2020
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30 Views

Kinds of Economics: The following are kinds of economies: (1) Descriptive economics (2) Theoretical economics (3) Applied economics (1) Descriptive Economics:...

Economics

What is the Subject Matter of Economics?

August 22, 2020
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290 Views

Subject Matter of Economics: Different economists have different opinions regarding subject matter of economics. According to Adam Smith and his followers the...

Economics

Methods of Deriving Economic Laws Deductive and Inductive

August 17, 2020
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56 Views

There me two methods of deriving economic laws or methods of economic analysis: (l) Deductive method (2) Inductive method Deductive Method: The deductive...

Economics

Inductive Method: Meaning, Steps, Merits and Demerits

August 17, 2020
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158 Views

Inductive Method: Induction means reasoning or inference from particular facts to general principles. Inductive method is a process of arranging facts to draw...

Economics

Deductive Method: Meaning, Steps, Merits and Demerits

August 17, 2020
2 Comments
200 Views

Deductive Method: The deductive method is also named as analytical, abstract or prior method. Deduction means reasoning or inference from general to particular...

Economics

Comparison of Economic Laws and Scientific Laws

August 17, 2020
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17 Views

Physical / Natural science e.g. Physics, Chemistry, Biology, Geography etc. deal with matter. These sciences are made by experiments on the matter in the...

Economics

Comparison of Economic Laws and Moral Laws

August 17, 2020
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6 Views

Moral laws are the most accepted values of a society particularly based on the teachings of a religion.  These laws clearly tell us either to do something or...

Economics

Comparison of Economic Laws and State Laws

August 17, 2020
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7 Views

Statutory laws or laws of the state are made by the legislature or the elected representative of the people. These laws are written in black and white for the...

Economics

Economic Laws: Meaning, Definition, Characteristics and Limitations

August 17, 2020
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472 Views

Economic Laws: Law can be stated as “a repeated action which holds good at every time and at every place or if an action is repeated again and again and...

Economics

What is Economic Problem and When Does the Economic Problem Arise?

August 17, 2020
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34 Views

Economic Problem: According to the economists, a problem of choice is an economic problem. It can easily be explained in the light of Prof. Lionel...

Economics

Marshall vs Robbins Definition of Economics Comparative Study

August 15, 2020
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84 Views

Alfred Marshall defined economics as “Economics is a study of mankind in the ordinary business of life. It examines that part of individual and social...

Economics

Lionel Robbins Definition of Economics Merits and Demerits

August 12, 2020
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1,389 Views

Lionel Robbins Definition of Economics (Modern School of Thought) “Economics is the Science of Scarcity and Choice” Prof. Lionel Robbins has...

Development Economics

Why All the Countries Are Not Developed Alike

August 12, 2020
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280 Views

In the World’s Development Report of 1995, it was said that more than three-fourth of population lives in poor and less developed countries but they get...

Development Economics

Reasons or Need for Studying Development Economics

August 11, 2020
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525 Views

Reasons or Need for Studying Development Economics or Scope of Development Economics Here we shall concentrate upon that what is the need behind studying...

Books

Statistical Techniques in Business and Economics by Douglas Lind, Marchal and Wathen

July 25, 2020
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1,406 Views

Lind/Marchal/Wathen is a perennial market best seller due to its comprehensive coverage of statistical concepts and methods delivered in a student friendly...

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  • Relationship Between Total Utility and Marginal Utility
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