Modern economists have disregarded the concept of ‘cardinal measure of utility’. They have come to believe that…
Economics & Finance
10 Articles
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When we consume a good or service, it provides us with satisfaction or happiness. However, it is…
Consumer equilibrium is a state in which a consumer attains maximum satisfaction from the goods and services…
Consumers are constantly faced with choices when deciding how to spend their money. They often choose to…
In microeconomics, the budget line represents the graphical representation of all possible combinations of two goods that…
Due to scarcity of resources, we cannot satisfy all our wants. Even if an economy uses all…
In this article, we will explore the main reasons for the existence of economic problems. These reasons…
Production, distribution and disposition of goods and services are the basic economic activities of life. In the…
Economics is a social science that deals with the production, distribution, and consumption of goods and services. As with any field of study, it has its own unique language and way of thinking that sets it apart from other disciplines. In this article, we will delve into the language of economics, the meaning of economy, the vital processes of an economy, and the importance of studying economics.