Difference Between MSF and SDF
Difference Between MSF and SDF MSF and SDF are two distinct tools used by the Reserve Bank of India (RBI) to manage liquidity in the banking system and influence short-term…
Economy
Inflation: Types, Causes, and Effects
Inflation: Types, Causes, and Effects Types of Inflation Demand-Pull Inflation: This occurs when the demand for goods and services exceeds the economy’s ability to supply them, causing prices to rise.…
What is cross elasticity?
What is cross elasticity? Cross elasticity of demand (XED) measures how the quantity demanded of one good responds to a change in the price of another good. It shows the…
Consumer Behavior: Utility, Indifference Curve, Consumer Surplus
Consumer Behavior, Utility, Indifference Curve, Consumer Surplus Consumer behavior refers to how individuals make decisions to allocate their limited resources (such as money) to maximize their satisfaction or utility. The…
Types of Markets: Perfect Competition, Monopoly, Oligopoly
Types of Markets: Perfect Competition, Monopoly, Oligopoly The structure of a market can significantly influence the behavior of firms, prices, and the overall competition within it. Here’s a summary of…
Market Equilibrium: Determination of Prices
Market Equilibrium: Determination of Prices Market equilibrium is a key concept in economics that describes the state where the quantity of a good demanded by consumers equals the quantity supplied…
Supply: Law of Supply, Elasticity
Supply: Law of Supply, Elasticity Law of Supply states that, other things being equal, as the price of a good rises, the quantity supplied of that good increases; conversely, as…
Demand: Law of Demand, Elasticity
Demand: Law of Demand, Elasticity Law of Demand is a fundamental principle in economics that describes the relationship between the price of a good and the quantity demanded by consumers.…
Theory of Demand and Supply
Theory of Demand and Supply theory of demand and supply is a fundamental concept in economics that explains how markets function. It describes how the quantity of goods demanded by…
Importance of Economics in the Civil Services Exam
Importance of Economics in the Civil Services Exam Economics plays a crucial role in the Civil Services Examination (CSE) in several ways. For candidates aspiring to join the Indian Administrative…