Oligopoly Market
What is Oligopoly Market? Oligopoly is a market structure characterized by a small number of large firms that dominate the market for a particular product or service. In an oligopoly…
What is Demand Forecasting? Definition, Objectives, Importance, Methods.
What is Demand Forecasting? Demand forecasting is the activity of estimating the quantity of a product or service that consumers will purchase. Demand forecasting involves techniques including both informal methods,…
Market Structure
What is market structure? Market structure can be explained as interconnected characteristics of a market, such as the number and relative strength of buyers and sellers and degree of collusion…
Monopolistic Competition: Meaning, Features, Price determination
What is Monopolistic Competition? Monopolistic competition is a situation of market in which the number of producers and sellers is large though not so large as to create the situation…
What is Supply? Law of Supply and Supply Curve
What is supply? Supply can be defined as that much quantity of commodity which a producer or seller is willing and able to sell at given price level. Supply of…
Microeconomics and Macroeconomics
What is Microeconomics? Microeconomics is the study of the economic behavior of individual consumer and producer and of individual economic variables i.e. production and pricing of individual goods and services.…
What is Cost Concepts?
Cost Concepts Cost is measurement in monetary terms of the amount of resources used for the purpose of production of goods or rendering services. It can be expressed in terms…
Economy and Its Basic Problem
Basic Problems of an Economy The basic problems of economic decisions and form the basis of economic studies and generalisation.The major economic problems faced by an economy whether capitalist, socialist…
What is Economics? Definitions, Scope, Nature
What is Economics? Economics is the social science studying the production, distribution and consumption of goods and services. Economics is a complex social science spans from mathematics to psychology. Definitions…