Indifference Curve Meaning, Nature, Assumptions, Properties and Limitations Meaning and Nature of Indifference Curve The realms of consumer behavior were expanded to new horizons with the introduction of indifference curve analysis by J.R. Hicks and R.G.D. Allen. The crux of this analysis is that utility is ordinally measurable. From the above discussion on ordinal approach, […]
Monetary Policy Meaning, Objectives, Instruments, Transmission mechanism and limitations in developed and developing economies. Meaning Monetary policy includes the actions of a central bank, currency board or any other regulatory committee that determines the size and rate of growth of the money supply, which in turn affects interest rates. It implies the regulation of […]
Effects of Inflation The effects of inflation are all pervasive. It affects all those who depend on the market for their livelihood. The effects of inflation may be favourable or unfavourable, and low or high depending on the rate of inflation. Following are the major effects of inflation: 1. Effects of Inflation on Distribution of […]
Demand Pull and Cost Push Inflation 1. Demand Pull Inflation The demand-pull inflation occurs when the aggregate demand increases at a much higher rate than the aggregate supply. In other words, demand-pull inflation occurs when, given the aggregate supply, aggregate demand increases substantially. Increase in aggregate demand may be caused by i. monetary factors, i.e. […]
Inflation Meaning, Definitions, Characteristics, Causes and types Meaning Inflation is a global phenomenon in present-day times. There is hardly any country in the capitalist world today which is not afflicted by the specter of inflation. Inflation is a sustained rise in the average level of prices. Notice, the word sustained. Inflation does not mean a […]
Business Cycle/Trade Cycle Meaning, Definitions, Features, Phases and Theories Business cycle is the periodic up and down movements in economic activities. It is also know as economic cycle or trade cycle It has been seen that economic activities measured in terms of production, employment and income move in a cyclical manner over a period of […]
The Consumer Protection Act 1986 The Consumer Protection Act 1986 Introduction Till 1985, the consumer, specifically in India, was neglected. Traders dominated the market in every aspect of business causing concern to the consumers. In spite of various provisions providing protection to the consumer and providing for stringent action against adulterated and sub-standard articles in […]
A shrinking number of well-known companies are still doing business in Russia, even as hundreds have announced plans to curtail ties. But many are curious to know why leading brands have not closed their operations in the world’s most sanctioned country. Reason : First, many brands do not operate directly in Russia and have outsourced […]
Following easing of restrictions, COVID cases are on the rise again. China recently imposed restrictions to curb the spread of cases while South Korea recently reported over 6 lakh cases. The World Health Organisation (WHO) has called the recent surge in cases ‘tip of the iceberg’. What is Stealth Omicron Subvariant? It is a new […]
Every year on March 20, the United Nations celebrates the International Day of Happiness. With our planet experiencing unprecedented challenges, it is more important than ever to be happy. The purpose of the International Day of Happiness is to raise awareness on the value of happiness in one’s life and the overall impact it can […]
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