The law of supply and demand is a fundamental concept of economics and a theory popularized by Adam Smith in 1776. The principles of supply and demand are effective in predicting market behavior.

While the theory of ‘integral humanism’ talks about the ‘whole man’, the western economics remains obsessed about the concept of ‘economic man’. Though behavioural economists have ...

Macroeconomics is the study of the economy as a whole. It studies how the economy behaves, performs, and functions by addressing different economic concepts like gross domestic product (GDP ...

Another is a written test on economics and personal finance concepts, and a third is a problem-solving exercise. For the last challenge, the teams pondered an economic problem: how to deal with all ...

The reality is that most of the work of policymaking is not deeply concerned with, nor affected by, the balance of trade between nations or the economy’s place in the business cycle — the core ...