Economics
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Neoclassical Economics – The Assumptions and Criticisms
In the late 18th and early 19th centuries, the Classical Theory of Economics predominated in the field of economics. Classical…
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The Law of Diminishing Marginal Utility
According to the law of declining marginal utility, as consumption increases, the marginal utility gained from each additional unit declines,…
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All You Need to Know About Command Economy
The majority of economic activity in nations around the world lies between a severe command economy and a pure free-market…
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Gross National Product (GNP) – An Introduction
Two crucial elements in defining a nation’s economy are its Gross Domestic Product (GD) and Gross National Product (GNP). The…
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10 Effective Trading Principles
Trading involves active participation in the financial markets, as opposed to investing, which is based on a buy-and-hold strategy. The…
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All You Need to Know About Revenue Deficit
The phrase “budget deficits” describes a situation in which the government’s budget expenses exceed its budget receipts. A budget may…
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Austrian Economics VS Keynesian Economics
Human activities are always influenced by the many demands that each person has. The study of human conduct as a…
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The Meaning, Types and Calculation of Cost of Production
When you buy something from the market, you pay the MRP, or maximum retail price. The product’s initial manufacturing cost…
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The Scope of Managerial Economics
One such economics idea is managerial economics. It can be characterised as the integration of commercial practises and economic ideas.…
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The Definition, Aspects and Example of Traditional Economy
Although the fundamental aspects of traditional and capitalist economies (output, labour, and trade) are similar, the contrast widens when actual…
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