by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Say’s Law Of Markets?Says Law of Markets is a theory in classical economic that states that product production is the reason why we have demand. According to this theory, being able to demand something is financed by the supply of a different product....
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Contagion?Contagion can be referred to as an economic crisis or changes in a regional market which has a total influence on another. In other words, economic breakdown or others in a specific geographic region influences another region. Since the economy of...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is an Autonomous Expenditure?Autonomous expenditure simply refers to spending that must be done, regardless of income. It is the minimum spending by an individual or the government when income is at level zero.Why is Autonomous Expenditure Important?An Autonomous...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Autonomous Consumption?Autonomous consumption refers to the lowest level of consumption that must occur even in the absence of disposable income for consumers.Why is Autonomous Consumption Important?Autonomous consumption is understood as consumption that...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Balanced Trade?In a balanced trade, a country does not account for trade surplus or trade deficits. This model mandates countries to equal their imports with exports. This ensures that a zero balance of trade is achieved which could also include the...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Evolutionary Economics?Evolutionary economics is a theory propounded by an American economist and sociologist, Thorstein Veblen (1857-1929). This theory dwells on anthropology, sociology, psychology, and Darwinian principles. Several other economists including...
