Category: Macroeconomics

DIFFERENCE BETWEEN GDP & GNP

Reading Time: 3 minutes Gross Domestic Product (GDP) and Gross National Product (GNP) are two commonly used economic indicators that help policymakers, investors, and analysts understand the economic performance

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Gross Domestic Product (GDP)

What is Gross Domestic Product (GDP)

Reading Time: 3 minutes Gross Domestic Product (GDP) measures a country’s economic performance by calculating the total value of all goods and services produced within a specific period.

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MICRO VS MACRO ECONOMICS

Reading Time: 5 minutes A Comprehensive Guide Economics is a complex field that deals with the production, consumption, and distribution of goods and services. It is divided into two

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Understanding the concept of Ceteris Paribus

CETERIS PARIBUS IN ECONOMICS

Reading Time: 4 minutes Ever heard economists say “all other things being equal”? That’s ceteris paribus in action! It’s a fancy way of saying they’re isolating the effect of one thing on another, assuming nothing else changes.

Think about gas prices. Ceteris paribus helps predict how a price hike might lead to less driving, if factors like income stay the same. It’s a simplified view, but ceteris paribus helps us understand complex economic concepts.

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