Every Economy is a Keynesian Model right now but not to increase the Aggregate Demand but to control the Pandemic. As the saying goes, the rule of war never changes, it's the weapons that change. So post...
We need to know Pareto improvement to understand Pareto Optimality/Efficiency. Pareto Improvement If we can find a way to make some people better off without making anybody else worse off, we have a...
Risk Averter:- A person who minimise risk during investment called Risk Averter or Risk Averse and the activity called risk Aversion. Risk Lover:- A person who take risk to maximise his profit during...
Trade Unions can play a vital role in affecting the wage rate in the industry. Their methods have the result of either increasing the demand for labor or by either restricting thesupply of substitutable...