What is the welfare effect in terms of areas on the supply and demand graph on the US economy?
I have been asked this question from one of my ex-student on whats-app. Let’s familiarize with some basic terminology before coming to any conclusion: Consumer Surplus is the difference between…
Is GDP a good measure for the standard of living?
I received this question request on quora. This is a very common question, you can search it on google as well, and I would also like to do my part,…
The rightward and leftward shift of the demand curve
The rightward and leftward shift of the demand curve is a common question asked by me when I teach students the concepts of ‘demand and supply. One basic rule you…