Introduction Tabulations or tables that represent data in simple and easy form are helpful in understanding and comparing data. These are made to make easy decisions and in order to make meaningful insights about the position or condition of a quantity studied. This tutorial discusses what tabulation is, its types, ... Read More

Introduction: What is a market? A market is a place where buyers and sellers can exchange items for a price. There are two types of markets, physical markets such as those containing retail stores, and virtual markets such as online stores. In the case of virtual markets, no physical interaction ... Read More

Introduction It is important to look at the theoretical implications of market equilibrium when the number of firms is fixed in a market. Although it is a hypothetical situation, the findings from the theory are applicable in real life. That is why looking at the findings of the situations when ... Read More

Introduction: What is Supply? Supply is the number of goods and services a producer or supplier is willing and able to bring to a market for a given price. The amount of supply is dependent upon the availability of stocks and the determiners of supply who drive it in ... Read More

Introduction: What is Poverty? Poverty is a social, economic, and political situation where people face scarcity of some urgent resources such as money and other material things. Poverty is a debilitating condition for both individuals who live as poor and the economies that have them. Poverty is directly related to ... Read More

Introduction: What is Sustainable Development? Sustainable development is a very important topic in modern economics. Sustainable development refers to present economic development without harming the economic resources and growth of future generations. Often, the word sustainability is used to define sustainable development. It means that we must not compromise the ... Read More

Introduction: What are Index Numbers? The nature of variables to changes over a period of time, and index numbers are statistical devices to measure such changes. Usually, the variables in a statistical calculation diverge following a general trend. Index numbers represent this trend of diversion. The index numbers measure an ... Read More

Introduction: What are Not-for-Profit Organizations? Not-for-profit organizations are entities made for special interests and they do not seek to earn profits from their activities. Not-for-profit organizations do not charge profits for distributions among their members and hence it is a unique type of business, learning which is knowledgeable and important ... Read More

Introduction: What is the Economic Environment? Businesses are impacted by various internal and external factors that affect their financial performance. The combination of all large-scale (macro) and small-scale (micro) economic factors are known as the economic environment. The economic environment is an essential indicator of businesses’ performance and is hence ... Read More

Meaning of Economic System An economic system is the set of regulations that governments or societies exert to control and distribute various resources, goods, services, etc. in a given geographical location or a country. Economic systems have defined uses of economic resources, land, labor, capital, and physical resources, such ... Read More