What is Economic Disturbance?

characteristics of economic disturbance

Introduction Economic disturbance is anything that leads to disruptions and irregularities in an economy . It can be any event or situation, natural or unnatural, that causes deviation from the expected economic conditions.  Raghuram Rajan, an Indian economist and a former governor of the Central Bank of India, has defined economic disturbance as a disruption … Read more

Economic Forecasting Techniques


Introduction Economic forecasting simply means making informed predictions about future economic conditions, opportunities, trends and developments. This includes assessing and analyzing the historical evidence and current economic scenarios to make projections about macro variables of the economy. Macro-economic variables include GDP growth, inflation rates, unemployment rates, interest rates etc. Elliott, G. and Tinnermann, A. describe … Read more

Difference Between Sharing Economy and Gig Economy.

Difference Between Sharing and Gig Economy

Introduction Sharing economy and gig economy are two distinct economic models. Both of these models focus on resources and exchange of resources but they have different approaches and purposes. To understand both of these concepts distinctly, we must know the differences between these two economic models. Some of the differences are: Difference between Sharing Economy … Read more



Introduction A country requires two policies to run its economy i.e. Fiscal Policy and Monetary Policies. Both of these policies are very crucial to steer and stabilize the economy and both the policies have different approaches to different aspects of the economy.  Fiscal policy is more concerned with government actions and generally deals with taxation … Read more

Limitations of Macroeconomics


Introduction Macroeconomics is a branch of economics that deals with the study of the economy as a whole, rather than an individual or a unit. It is concerned with macro issues such as economic growth , inflation, unemployment, monetary and fiscal policies, and international trade. Macroeconomics aims to understand the causes and effects of economic … Read more

Demand Forecasting

Delphi Method of Forecasting

Introduction Demand forecasting is the process of predicting the future demand for a product or service. This forecast is used to help businesses make informed decisions about production, inventory, and staffing. The forecast is typically based on a combination of historical data, industry trends, and economic indicators. Demand forecasting can be done using a variety … Read more

Measuring Poverty: Reasons and Importance

Measuring Poverty

Introduction Poverty refers to the state or condition of having limited access to the resources and opportunities needed to meet basic needs such as food, shelter, clothing, education, and healthcare. It is a lack of access to the basic necessities of life, often accompanied by a low standard of living and poor quality of life. … Read more

Limitations of Microeconomics

limitations of microeconomics

Limitations of Microeconomics Microeconomics studies individual units, hence, it cannot provide the complete overview of the whole economy. The scope of microeconomics is limited and the study of microeconomics is based on many assumptions. There is no doubt about its importance but there are several limitations in microeconomics. Microeconomics Limitations Generalization Microeconomics  studies individuals and … Read more

Importance of Microeconomics


Importance of Microeconomics Microeconomics and Macroeconomics are two major disciplines in Economics. Microeconomics deals with the behavior of individuals, firms and households in decision making and allocation of resources whereas macroeconomics deals with the macro perspective i.e. the overall economy. Macro perspective of the economy involves the markets, businesses, consumers and the governments. Microeconomics explains … Read more

Economic Disparity : Measurement and Socio-economic Factors

Introduction According to Forbes, there are about 2,755 billionaires in the world as of 2021. The World Bank, on the other hand, estimated that more than 700 million people worldwide were living on less than $1.90 per day. Economic disparity refers to the unequal distribution of money and opportunity among various groups in society. It … Read more