Economics

What is Marginal Product? Marginal Product in economics refers to the additional output or product that is generated by adding one more unit of input or factor …

What is Negative Inflation? Negative inflation is a situation in which prices are decreasing rather than increasing, resulting in a negative inflation rate. Thi…

What is the Real Sector? The real sector refers to the part of the economy that produces tangible goods and services. This sector is considered the “real” part …

What is Bank Run? Bank run is a situation in which a large number of customers of a bank or other financial institution withdraw their deposits simultaneously d…

What is Zombie Company? A Zombie Company is a term used to describe a business that is no longer able to generate enough revenue to cover its debt payments but …

What are Inferior Goods Inferior goods are goods that the demand increases when the consumers’ income decrease. Conversely, the consumers’ will demand fewer inf…

What is Negative Interest Rate Negative interest rate is when an interest rate is below 0 percent, the borrowers receive interest rather than lenders. Under the…

What is the Production Possibility Curve Production possibility curve is a curve that measures the maximum combination of outputs that can be obtained from a gi…

What is Price Elasticity of Supply Price elasticity of supply is a measure of how responsive the quantity supply of a good is to a change in price. The price el…

What is Cross-Price Elasticity of Demand Cross-price elasticity of demand is refer to the responsiveness of demand to the change in prices of related goods (als…

What is Income Elasticity of Demand Income elasticity of demand refers to the change in demand that is affected by the changes in income. The income elasticity …

What is the Law of Supply Law of supply is an economics theory that states that the price and quantity supplied of a good are related to each other. The law of …