PinnedWhat Is Gross Domestic Product (GDP)?GDP, the acronym for Gross Domestic Product, is heard often in economic related discussions or news coverages. Well what exactly is GDP and…Jul 17, 2021Jul 17, 2021
Aggregate SupplyIn the previous article, we talked about the concept of aggregate demand. In this article we will dive into the concept of aggregate…Aug 20, 2021Aug 20, 2021
Aggregate DemandIn previous articles, we have discussed measuring the supply and demand for a particular good. Pursuing this measurement allows for…Aug 9, 2021Aug 9, 2021
The Business CycleEconomists often observe how output, the goods and services produced in an economy, change as time progresses to track the health of an…Jul 31, 2021Jul 31, 2021
Price Indices and The Inflation RateIt is important for economists to understand when an economy is facing price changes as substantial price changes could cause inflations or…Jul 31, 2021Jul 31, 2021
Inflation, Deflation, and Purchasing PowerIn this article, we will be observing how prices can change over time and how those changes can affect the people of an economy. Overtime…Jul 20, 2021Jul 20, 2021
Types Of UnemploymentIn the previous article, we defined what it means to be unemployed and when a person is considered to be unemployed. In this article, we…Jul 20, 2021Jul 20, 2021
Understanding Unemployment RatesUnemployment rates are statistics which are prominent in discussions about the health of an economy and how it is performing. However, this…Jul 19, 2021Jul 19, 2021
The Circular Flow ModelIn this article we are going to take a look at how money flows in an economy. We are going to take a look at a model known as the circular…Jul 16, 2021Jul 16, 2021
Price Ceilings, Price Floors, and DisequilibriumIn this article we will talk about how the government can intervene in a competitive market and its effects. We know that the market price…Jul 2, 2021Jul 2, 2021