Tag: microeconomics

What is a 'Sale' A sale is a transaction between two parties where the buyer receives goods (tangible or intangible), services and/or...

What is 'Absorbed' 1. In a general business sense, when a cost is treated as an expense instead of being passed on...

Who was John Hicks? John Hicks was a British economist who was awarded the Nobel Prize in Economics in 1972. He is best known for...

Source: WikipediaLast Sourced: 2021-02-01This Article has been Edited for Accessibility Further Reading Event studies in economics and financewww.jstor.org ECONOMISTS are frequently asked to...

What is 'Unannualized' A rate of return on an investment for a period other than one year. An unannualized return may be used to report...

Understanding the concept of marketing Marketing is a process through which companies communicate, promote, exchange and deliver offerings which have value for its target...

DefinitionIn microeconomics, the law of demand states that, "conditional on all else being equal, as the price of a good increases, quantity demanded decreases...

DefinitionThe law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in price results in...

DefinitionIn microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a...

DefinitionIn economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences...