Explain the features of business cycle.
Introduction: The term “trade cycle,” also known as the business cycle or economic cycle, refers to the recurrent…
Define trade cycles. What are the different phases of a trade cycles?
Meaning: The term “trade cycle,” also known as the business cycle or economic cycle. It refers to the…
Explain the Keynesian Theory of Employment/Explain Keynes’s Principle of Effective Demand?
Introduction: keynes theory is based on empirical foundation and has policy implication. Keynes did not have much faith…
Briefly explain the Say’s Law of markets?
Introduction: Say’s law of market is the foundation theory of classical economics. Assumptions of full employment as a…
What is an Indifference Curve? Explain the properties of an Indifference Curve.
Meaning: In economics, an indifference curve represents a graphical representation of combinations of two goods that provide a…
Distinguish between Micro and Macro economics.
Meaning: The difference between micro and macro economics is huge. Microeconomics is a branch of economics that focuses…
Briefly Explain the Law of Variable Proportions?
Introduction: In economic theory, the law of variable proportion occupies an vital place. It is one of the…
What is National Income? Explain the importance of National Income Estimation?
Meaning: The total income of the nation is called national income. The aggregate economic performance of the whole…
Define National Income? Explain the methods of Estimation of National income.
Meaning: The total income of the nation is called national income, the aggregate economic performance of the whole…
Explain the difficulties in the Estimation of National Income?
Introduction: National income accounting is not an easy task .A number of difficulties arise in the measurement of…