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Fiscal Policy

Wednesday, October 28, 2009, 13:10
Economics
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Fiscal Policy, a very vital part of economics, is referred to as the government spending as well as revenue collection of a country. It can be also defined as spending and revenues that are used for the betterment of the countries. Government collect money from the people in the forms of taxes etc and in return provide facilities to the nation in the form ... Full article

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Shortcoming of GDP

Wednesday, October 21, 2009, 14:08
Economics
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GDP is the accurate measure of economy it shows how well or how bad the economy is doing. True said, nothing is perfect in the world there are some shortcomings of GDP which are important to consider in the country economy. Non-market Transactions GDP calculate the transactions occurs in the market place other than that its out of its scope, non-market transaction are not occur ... Full article

Tags: Composition and Distribution of Output, GDP and the Environment, GDP limitations, Improved Product Quality, Leisure, Limitations of GDP, Non-economic Sources of Well-being, Non-market Transactions, Per Capita Output, Shortcoming of GDP, The Underground Economy

What is Economics?

Monday, October 12, 2009, 11:31
Economics
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Even though we might not have any idea of what actually economics is, but we do know that the resources in our world are limited and so, we are forced to use these resources smartly. Now lets head towards our topic of discussion; Economics, basically, is the study of how a society uses these limited resources to make commodities that are useful for the ... Full article

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Demand

Tuesday, February 10, 2009, 14:31
Economics
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Demand in economics is schedule or curve that show the quantity of product purchased on series of prices during a specific time period period. The demand of any commodities creates when consumer have willingness and ability to buy the product on offered price. Below table-1 show the hypothetical demand schedule for a single consumer purchasing number of apples. Table-1 An individual Buyer's demand for Apple ... Full article

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Difficulties in Measuring GDP (Gross Domestic Product)

Saturday, January 31, 2009, 17:19
Economics
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GDP is the value of goods and services produce in a country during the time period of year. Measuring of economy on GDP standards consist some drawbacks. Double Counting Problem Including the price of intermediate goods individually and with final product. Self doing activities Unrecorded economy in personal activities like the duties performed by oneself, housewives etc are not included in the GDP. Illegal ... Full article

Tags: difficulties in measuring GDP, double counting problem, GDP, Illegal Economy, Measuring GDP, Problem in measuring GDP, Statistical Errors

Key Factors of Economic Growth

Saturday, January 31, 2009, 16:51
Economics
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The major objective of economics to handle the scarcity of resources, properly managing resources result in economic growth. Following are some of the major factors of economic growth. - Predominance of free markets. - High rate of saving and investment - Low Trade Barriers - Honest Government - Strong property Rights - Investment in education - Security in the country - Stability of Government - Innovation Full article

Tags: key factors in economic growth, macroeconomics tutorials

Business Fluctuations

Saturday, January 31, 2009, 16:39
Economics
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Short term variations in the economic activity are known as business cycle or business fluctuations, one of the most durable problems in all the macroeconomics. Economics history shows economy never enjoyed smooth growth and same pattern.A country may enjoying several year of economic growth during that time output is high,unemployment is low,resource utilization is high,people enjoying good life standard,prices are low same situation were ... Full article

Tags: business cycle, business fluctuation, depression, economy contraction, economy expansion, macroeconomic tutorial, macroeconomics, recession

CPI - Consumer Price Index

Thursday, December 25, 2008, 8:38
Economics
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Consumer Price index is the average price of product and services purchase by the consumers. Where The GDP price index measure the rate inflation of all products and services on the other hand CPI indicates the change in consumer prices for the defined time period, increase in index shows the level of inflation at consumer end. There are many different CPI is ... Full article

Tags: Consumer Inflation, Consumer Price Index, CPI, CPI biases, CPI formula, CPI shortcomings, Formula of CPI, GDP price index, Inflation, macroeconomics tutorials, New product bias, outlet substitution bias, price index, Quality change bias, substitution bias, Uses of Consumer price index, uses of CPI

National Accounts Identity

Thursday, November 6, 2008, 13:56
Economics
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National Accounts Identity Recall that the concept of the circular flow of income makes it clear that, in a given period of time, the amount of expenditure in the economy must equal the value of output sold in return which then must equal the incomes paid to the owners of the factors which were used to produce the output. This identity between expenditure, output and income ... Full article

Tags: double counting, economics tutorials, expenditure, GDP, income, national accounts indentity, national income accounting, output

The Overall System of Accounts

Thursday, November 6, 2008, 13:48
Economics
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The Overall System of Accounts We now look briefly at the overall system of national accounts and in particular at the financial relationships between the different sectors of the economy. Of fundamental importance is the flow of funds identity connecting the net lending or borrowing of the four sectors. For a more detailed discussion of the principles underlying the structure of the national accounts, read the ... Full article

Tags: economy.personal sector.corporate sector.genral government sector.Overseas sector, four sectors, overall system of accounts