A monetary policy is a macroeconomic tool used by governments through their respective monetary authorities to influence economic growth. Take […]
Economics
Supply-Side Economics vs Demand-Side Economics
Two competing macroeconomic theories dominate modern economic policies and the field of political economy. These are supply-side economics and demand-side […]
Major Works of Milton Friedman
Milton Friedman was an American economist who won the Nobel Memorial Prize in Economic Sciences in 1976 for his research […]
Types of Market Structures
Market structures represent the economic environment in which firms or businesses operate and compete with one another. A particular industry […]
Monopolistic Competition: Advantages and Disadvantages
Markets considered under a monopolistic competition structure are common in market and mixed market economies. The smartphone market is a […]
Perfect Competition: Advantages and Disadvantages
A market or industry is considered under perfect competition if it has a sizeable number of producers or sellers offering […]
Economic Costs of Inefficient Transportation
Transportation is critical for economic growth. But inefficiencies in transportation systems and traditional modes of transport have macroeconomic and microeconomic […]
Monopoly: Characteristics, Advantages, Disadvantages
A monopoly is one of the four major types of market structures alongside perfect competition, monopolistic competition, and oligopoly. It […]
Characteristics of Perfect Competition
One of the four major types of market structures is perfect competition characterized by a sizeable number of firms or […]
Characteristics of a Centrally Planned Economy
A centrally planned economy is an economic system and a specific type of a planned economy in which economic decisions […]