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Development Economics

Measurement of Economic Development

August 5, 2021
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312 Views

Different economists have used various measures to access the level of development at a particular time. Some measures have been given below: Prof. W.W...

Economics

Supply: Meaning and Definition of Supply

August 4, 2021
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109 Views

The amount of goods and services produced are called production and the portions of the produce offered for sale at prevailing prices in a given period of time...

Economics

Demand: Meaning and Definition of Demand

July 17, 2021
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124 Views

Meaning of Demand: Demand means the desire to purchase a commodity for which the consumer has the power to purchase. So, demand has two conditions: (1) Desire/...

Economics

How do we measure utility or pleasure?

January 1, 2021
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127 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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304 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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417 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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241 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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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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808 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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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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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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215 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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95 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
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1,385 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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1,196 Views

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

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