Economics


Economics: Definition, Branches & Basic Concepts of Economy

Why Economics is a Science? Meaning & Definition

Why Economics is a Science? | Economics is called a science subject because it uses scientific measures to explain, observed phenomena and predict the outcome of future events. This scientific method of observation is generally referred to as inductive method.


Economics: Definition, Branches & Basic Concepts of Economy

Basic Problems of Economics

Basic Problems of Economics | Scarcity and choice are the cardinal problems faced by economists and the society at large. The study of economics is necessitated by scarcity and the problem created by scarcity has led to choice.




Why Study Economics?

Why Study Economics?

Why Study Economics? – The study of economics assists individuals to be independent and be practical individuals. This is possible through the application of practical approaches to emerging issues and providing solutions to deny problems.




Globalization: Definition, Features, Merits & Demerits

Globalization: Definition, Features, Merits & Demerits

Globalization is a phenomenon based on the continuous increase in the interconnection between the different nations of the world on the economic, political, social and technological levels.

The use of this term has been used since the 80s. That is, since technological advances have facilitated and accelerated international commercial and financial transactions. And for this reason, the phenomenon has as many defenders – such as the International Monetary Fund (IMF) or the World Bank – as detractors.


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Effective Value – Definition, Features, Concept & Examples

The effective value is that market value obtained through the purchase or sale of a financial asset or right, such as credit instruments or bills of exchange.

In the field of financial and stock market economics, the concept of cash value is frequently used. In practice, it is the value assigned to a  financial instrument or right when it is transferred through a sale.