Price Elasticity of Demand

Price Elasticity of Demand (PED) is defined as the responsiveness of quantity demanded to a change in price. The demand for a product can be elastic or inelastic, depending on the rate of change in the demand with respect to the change in the price.What does Price Elasticity mean? Demand is said to be elastic demand has a greater…
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Commercial Banks

Commercial Banks are a type of financial institution that provide loans, accept deposits, and offer financial products and services like a savings accounts or a certificate of deposit to individuals and businesses.A commercial bank primarily earns money by charging interest to customers and by providing loans. Such a bank may also give interest…
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Supply and Demand

The result of the interaction between consumers and producers in a competitive market determines Supply and Demand equilibrium, price and quantity. Market forces tend to drop the price if quantity supplied exceeds quantity demanded and prices rise if quantity demanded exceeds quantity supplied. This movement continues until there are no more…
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The 25 Best Economics Podcasts Of 2018

We’ve made lists of the best 25 Economics Podcasts of both 2016 and 2017. Now it’s time to bring the list up to date and continue to help you find the best new podcasts in the field of economics. You’ll find an updated discussion of old favorites, plus several new options that have received critical acclaim in addition to high praise from readers.…
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Foreign Aid

Foreign aid is defined as the voluntary transfer of resources from one country to another country. This transfer includes any flow of capital to developing countries. A developing country usually does not have a robust industrial base and is characterized by a low Human Development Index (HDI).Foreign aid can be in the form of a loan or a…
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Ceteris Paribus

Ceteris Paribus is a Latin phrase which literally translates to “holding other things constant”. In economics, this phrase is used to mean “all else being equal.” It is used to indicate that one variable can change while we assume that all other variables remain the same. It is used frequently because of the number of variables that are constantly…
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