Economic Schools of Thought

The Purpose Economics as a science has two purposes: To explain economic phenomenons and correlations: ​Microeconomics ​Looks at the...

Market Structure

Grouped on the basis of certain market characteristics Describes the competition and price formation in a market through the interplay...

Market Failure

⭐️ Market failure is when the market alone cannot allocate the resources efficiently. Most economists assume that the market mechanism is...