Competition in the marketplace is as natural of a consequence as squinting our eyes when struck by light. Moreover, competition is essential for the growth of businesses, and it also enhances the quality of products and services for the consumers. However, sometimes a specific market faces saturation. With so many firms in the market, understanding …
As history has shown it repeatedly, international trade is one of the most crucial aspects to sustain an economy. Although international trade is usually the exchange of finances for goods, it also applies when a nation offers its assets in exchange for goods and services. While it may seem free trade is the way to …
As economics comprises both the public and private sectors, each sector plays an important role in the economy of a nation. If either is facing an issue, the overall economy suffers. Unsurprisingly, it is the private sector that faces the most problems compared to the public sector, as the government has the necessary resources to …
Inflation is one of the most common phenomena in economics. Economists are able to predict inflation by seeing the trends; however, there are times when the prices of certain commodities are increased unexpectedly, resulting in cost-push inflation. What is Cost-Push Inflation? It is a form of inflation that occurs when the prices of resources are …
A free market is one of the crucial aspects of capitalism. It provides freedom to both the businesses and the public, in terms of selling their product or services and choosing between different businesses, respectively. It accelerates innovation, strengthens the economy, and more importantly, promotes competition. When companies compete with each other, it results in …
Each year economists are faced with the question, “what measures must be taken to increase GDP?” This is crucial because GDP is measured to see if an economy is doing good or bad. Moreover, GDP is reported annually by every nation. Therefore, a strong GDP is essential for the economic growth. What is GDP? Gross …
Inflation is one of the most explored aspects of the economy. Since the introduction of modern currency, inflation has been persistent in society, whether it be because of increased demand for a certain product or political affairs. In modern times, different types of inflation have been introduced based on their workings. What is Inflation? Inflation …
Economics is a series of complex calculations and predictions that must be precise to predict the future of a nation in terms of finances, GDP, and employment rate. Although it is a difficult task, it is not impossible thanks to the indicators. Various indicators such as warning of a natural disaster, building up of tension …
Economic growth is the ultimate goal of each nation to strengthen its currency. Many policies are introduced for the said purpose. While some are proven beneficial, others leave a country in ruins. Inflation is one aspect that is beneficial for a country if wages are increased as well, but otherwise, it can be detrimental to …
The economic system has been around for centuries. Granted, those systems were vastly different from present-day economics; however, the fundamental idea to boost the financial state of a community was the priority even in those times. It not only involves complex calculations of the present financial conditions but the prediction of the future as well …