Economic Organization is the act of coordinating the other factors of production – land, labor and capital. Organization performs a very important function in modern production...
Amartya Sen’s capability theory sees development as expansion of people’s capabilities. It is a people centric multidimensional approach and goes well beyond economic growth.
Monopoly means absence of competition. Monopolist is the sole seller of a commodity. Under monopoly, the price of a good is determined by the interaction of supply and demand, but in a different way..
The economic development of mankind has been broadly divided into five stages. They are the hunting stage, the pastoral stage, the agricultural stage, the commercial stage and the industrial stage...
This article is a summery of three BBC TV programs on the economic theories of Keynes, Hayek and Marx.
It looks everybody knows the story about Little Red Hen in at least one of many known versions with different morals. It is a story with powerful message and many lessons to learn.
The value of things appear to correspond to a certain law: the Law of Value. There are very clear mathematical patterns underneath the economic values that reveal facts about true values vs. garbage
Meaning of elasticity of demand - Relationship between law of demand and elasticity of demand - Determinants of elasticity of demand - Importance of elasticity of demand
This hub is about "Big Push Theory" in Development Economics...
What is Socialism? Where has it been implemented and what were the results? Experiments in Socialism will answer these questions as we look at Socialism in the USSR, Nazi Germany, Red China, Korea, Cuba, Cambodia, and Ethiopia, with sections on Lenin, Stalin, Hitler, and Chairman Mao.