by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Exogenous Growth?The Exogenous growth theory is an economic theory that states that economic growth occurs as a result of factors independent of the economy. This theory is one that maintains that economic growth is not affected by internal factors or...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Law of Supply and Demand?The law of supply and demand reflects the relationship between the amount of goods or services demanded and the available supply of goods and services. The law of supply and demand states that a change in one causes a change in the...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Abenomics?Abenomics has its origin in Japan, it was advocated and enacted by Shinz Abe, a prime minister in Japan. Abenomics are economic policies used by Japan under the administration of Prime Minister Shinz Abe which pulled the nation out of the prevalent...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Trembling Hand Perfect Equilibrium?The trembling hand perfect equilibrium, as defined in game theory, is a situation or state that takes into consideration the possibility of an unintended move by a player by mistake. The probability of this type of play...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Engel’s Law?Engel’s law, being an economic theory, was founded by a German statistician named Ernst Engel in the year 1875. According to this theory, with the increase in income levels, there is a decrease in the extent of income apportioned for...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is the Equation of Exchange?The equation of exchange refers to an economic equation that establishes the link or relationship between velocity of money, money supply, index of expenditures, and the average price level. John Stuart Mill came up with this equation...
