Ten Principles of Economics (N. Gregory Mankiw)

Inflation

Ten Principles of Economics was introduced by N. Gregory Mankiw, Professor of Economics at Harvard University, in his book “Principles of Microeconomics“. He beautifully summarized his book mainly in Ten Principles of Economics in the first chapter of his … Read more

Ceteris Paribus Meaning & its Importance

Ceteris Paribus

Ceteris Paribus helps to isolate all independent variables except one which may affect a dependent variable. Because, in actual it is almost impossible to exactly determine the relationship between the price of a good (independent variable) and the quantity … Read more