Structural Unemployment – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is Structural Unemployment?Structural unemployment refers to a type of unemployment resulting from technological change, structural rearrangement of organizations, competition by firms, and government policy. Structural unemployment is not caused by mere...

Economics – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is Economics?Economics is a field of social science that seeks to understand how individuals make decisions or take actions concerning the allocation of finite or limited resources. What are the Elements of Economics?Economics involves three elements including...

Trickle-down Effect – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is the Trickle-Down Effect?The trickle-down effect is a model used in marketing, which states that fashion trends move from the higher classes to the lower classes in society. This model states that fashion sense flows vertically in the society, with each social...

Trickle-down Theory – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is the Trickle-Down Theory?The trickle-down theory (otherwise known as trickle-down economics) postulates that applying special tax cuts to the rich and wealthy as well as bigger corporations with benefit the society, by later affecting everyone else. This model...

Economic Efficiency – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is Economic Efficiency?Economic efficiency refers to an economic situation where there is an optimum allocation or distribution of resources with minimum waste and inefficiency. What is Allocative Efficiency?Allocative efficiency seeks to produce an amount that...

Utilitarianism (Economics) – Explained

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is Utilitarianism?The theory of utilitarianism was developed by Jeremy Bentham and John Stuart Mill. Utilitarianism focuses on the consequences of an action performed by an individual or a society. A utilitarian is concerned with how well an action favours the...