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The Giffen’s Paradox of Economics explained : Business Basics
Sir Rober Giffen has given this paradox. According to him, in the early 19th Century in Ireland, the people were poor and there were two food items available, potatoes…
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Macroeconomics explained in 9 simple points!
1. The word Macro has been derived from the original Greek word ‘Makros’ 2. It studies in aggregate or uses the aggregate approach of study 3. It studies the…
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Microeconomics Explained in 8 simple points!
1. Microeconomics has been derived from the Greek Word ‘Mikros‘ 2. It studies individual entities or takes individual approach to study the economic factors 3. It studies each unit…
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What is Economics, its main types and what does it relate to?
Economics is basically the study of scarce resources and their distribution in the society and world at large. In today’s terms, the discipline is mainly concerned with the nature…
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World Population Increase : A few Facts
Population is a worry for many of the countries in the world. The world population is going to grow quite rapidly over the next few decades. The Population Reference…