Development economics or economics of development and planning is a relatively new concept and has gained popularity in a short time. This has thus become a separate branch of economics. The concept of economic development is related to developing countries as such countries are suffering different types of social problems like poverty, inequality, unemployment, inadequate […]
Economic Growth, Development and Capital Formation Read More »
The theories of product pricing are related to the determination of equilibrium price and quantity of output in the different market structures. The determination of price and output in different market structures is crucial for business decision-making as the success of the business is based on its decision regarding price and output. Here is the
Product Pricing: Theories and Practices Read More »
Macroeconomics is the branch of economics that deals with economic activity on a large scale. It means macroeconomics is the study of the whole economy in terms of the total amount of goods and services produced, total income earned, total consumption, the investment made and stock of capital, the level of employment of productive resources,
Introduction to Macroeconomics Read More »
On the 4th of March, 2021 the Central Bureau of Statistics rebased its National Accounts Statistics. This is the fifth time that CBS has changed its base year of National Accounts Statistics. This means that CBS changed the base year for the calculation of the Gross Domestic Product (GDP) from 2000/01 to 2010/11. As a
Rebasing of National Accounts Statistics and GDP Read More »
Factor CostFactor Cost consists of the price paid to factors of production. In other terms, factor cost consists of income earned by a factor of production that is used in the production process. In general, the amount paid in the form of wages and salaries, rent, interest, and profit is known as factor cost. While
Different Types of Prices in National Income Accounting Read More »
