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7 Things You Should Know About Economics

7 things about Economics

Demand, Quantity demanded

The demand curve

Demand is defined as the quantity of a commodity that a consumer is willing and able to buy in the market, keeping other things constant (Ceteris paribus). For example, a…

Consumer Equilibrium under IC Analysis

Consumer Equilibrium Using Indifference Curve Analysis

Consumer equilibrium using indifference curve analysis is at a point where the consumer indifference curve touches the budget line. We have done consumer theory, consumer equilibrium using utility analysis, the…

Marginal Rate of Substitution

What is the Marginal Rate of Substitution?

The marginal rate of substitution refers to the rate at which the consumer substitutes one good, to obtain one more unit of the other good. Today, we will understand the…

Indifference curve

What is the indifference curve analysis?

Another important topic in economics after the budget line is the indifference curve analysis. The word ‘Indifference’ means being ‘neutral’ or having no effects at all. An indifference curve is…

Energy- Issues, Challenges and solution

What are some energy problems?

Energy is a crucial part of economic infrastructure. There are several challenges when it comes to energy: it is mostly insufficient in the rural sector, not only due to affordability…


What is Probability?

Probability is a measure of the likelihood of an event to occur. Many events cannot be predicted with total certainty. We can predict only the chance of an event to occur,…

Development Path of Pakistan

In the late 1950s and 1960s. Pakistan introduced a variety of regulated policy framework for import substitution industrializing.

the Great Proletarian Cultural Revolution, was a sociopolitical movement in China from 1966 until 1976. Mao Zedong, the chairman of the Communist Party of China, launched it.

Development Experience of India, Pakistan, and China

Great Leap Forward in China started in 1858.

Global warming is a direct result of a man-made increase in carbon dioxide and other greenhouse gases because of the burning of fossil fuels and deforestation

Global Warming- Definition, causes, effects

Global warming is a direct result of a man-made increase in carbon dioxide and other greenhouse gases because of the burning of fossil fuels and deforestation

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