by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Consumerism?Consumerism is an economic theory that maintains that an ever-increasing purchase of goods and services in an economy is an indicator that such a country would be desirable economically. Consumerism is also a theory that places great value on the...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Federal Open Market Committee (FOMC)?In the United States, the Federal Open Market Committee (FOMC) is an arm of the Federal Reserve Board that controls monetary policy. The Federal Reserve System is responsible for overseeing and regulating the open...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What are Positional Goods?Positional goods give their possessors a peculiar status given the fact that other people do not possess them or there is a limit to the number of people that possess the goods. The supply of a particular product within an economy will...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is a Porter Diamond?The Porter Diamond refers to an economic model that aids the understanding of factors that give a group, organization or country a competitive advantage over others. The theory is otherwise called the Porter Diamond Theory of National...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Wage and Price Stickiness? Keynes also pointed out that although AD fluctuated, prices and wages did not immediately respond as economists often expected. Instead, prices and wages are “sticky,” making it difficult to restore the economy to full employment and...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is a Stabilization Policy?Stabilization policy refers to a strategy implemented by the government of a nation to ensure that the economy is steady, this policy reduces price fluctuations in an economy through the implementation of certain measures and monitoring...
