Are economic recessions inevitable?

June 30, 2024 No Comments

A: The popular sentiment of financial analysts and many economists is that recessions are the inevitable result of the business cycle in a capitalist economy. The empirical evidence, at least on the surface, appears to strongly back up this theory. Recessions are highly frequent in

Are economic recessions inevitable?

July 7, 2024 No Comments

Are economic recessions inevitable?

July 7, 2024 No Comments

Are monopolies always bad?

June 30, 2024 No Comments

A: Monopolies over a particular commodity, market or aspect of production are considered good or economically advisable in cases where free market competition would be economically inefficient, the price to consumers should be regulated, or high risk and high entry costs inhibit initial investment in

Are monopolies always bad?

July 7, 2024 No Comments

Are monopolies always bad?

July 7, 2024 No Comments

Are perfect competition models in economics useful?

June 30, 2024 No Comments

A: Perfect competition is the name used for a set of false assumptions of mainstream economists in models that, without those assumptions, could not be applied to real data. In effect, these models create the framework necessary to make economics a positive empirical science. Most

Are perfect competition models in economics useful?

July 7, 2024 No Comments

Are perfect competition models in economics useful?

July 7, 2024 No Comments

Are there any exceptions to the law of demand in economics?

June 30, 2024 No Comments

A: There are different definitions of the law of demand in economics. The most common definition, which is adapted to fit macroeconomic models, shows an inverse correlation between the price and quantity demanded of a good. There are some real-world exceptions to the model-based definition,

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