Public economics is the study of economic policy, with particular emphasis upon taxation. The subject therefore encompasses topics as diverse as responses to market failure due to the existence of externalities and the determination of optimal social security policies. This characterization reflects an extension of the scope of public...
The success of multinational companies can be attributed to their ability to deliver not only quality products but also delivering them on time, all over the world. Therefore, the focus has moved from competition between firms at the same level in the production process to competition between supply chains,...
Economics-Inflation Inflation is one of the most listened topics these days. Inflation can be defined as a sustained increase in the general price level. It is usually measured by the Retail Price Index (RPI). This is a weighted average of retail prices. To calculate it, goods and services are given...
Supply Chain Management The study of Supply Chain Management has gained a lot of importance in today’s business management. There is a lot of significance attached to Supply Chain Management these days because of the interconnection between businesses in a global environment where in order to assemble a product, a...
Managerial Economics Managerial Economics is the science of directing scarce resources to manage effectively. Whenever resources are scarce, a manager can make more effective decisions by applying the discipline of managerial economics. These may be decisions regarding customers, suppliers, competitors or the internal workings of the organization. It does not...
Economics- The Demand For Money The demand for money is he quantity of monetary assets, such as cash and checking accounts, that people choose to hold in their portfolios. Choosing how much money to demand is thus a part of the broader portfolio allocation decision. In general, the demand for...
Macroeconomics is the study of the structure and performance of national economies and of the policies that governments use to try to affect economic performance. Important branches in macroeconomics include the determinants of long-run economic growth, business cycles, unemployment, inflation, international trade and lending and macroeconomic policy. As macroeconomics...
Emergence of Oligopoly in Economics An Oligopoly is a market structure with a small number of firms. A good example of an oligopoly is the petroleum industry in which a few firms have accounted in recent years for much of the industry’s refining capacity. Each of the major oil firms...
In Economics, Price Discrimination is an important concept. Price Discrimination occurs when the same product is sold at more than one price. For example, an airline may sell tickets on a particular flight at a higher price to business travelers than to college students. Even if the products are not...
Industrial Policy: Beyond support for basic science and technology, an aggressive approach has been proposed for encouraging technological development is industrial policy. Generally, industrial policy is a growth strategy in which the government – using taxes, subsidies, or regulation – attempts to influence the nation’s pattern of industrial development. More...
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