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
Here are some multiple-choice questions for the Managerial Economics course with the correct solution. These MCQs are collected and compiled from different online and offline sources. Which of the following is NOT one of the four basic types of market structure? Which of the following is an example of a public good? In microeconomics, what … Read more
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. Macroeconomics 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
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
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 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 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
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
Introduction: Market Structures A market structure is a system of classified goods and services that are exchanged between buyers and sellers. It can be defined as the way in which an economy allocates resources to satisfy the wants of consumers. We can also see that there are various factors that determine the type of market … Read more
Introduction to Elasticity of Demand Elasticity of demand is an important concept in economics, because it measures how responsive consumers are to changes in prices. Elasticity of demand is the degree to which a given quantity of a good or service can be produced in response to changes in the price of that good or … Read more
