An exploration of 'Animal Spirits' as introduced by John Maynard Keynes, its historical context, types, and importance in economics and beyond.
A comprehensive look into the dynamics of asset prices, covering historical context, types of assets, influential factors, mathematical models, and their importance in economics and finance.
A comprehensive exploration of the Bid-Ask Spread, its significance in financial markets, types, key events, and detailed explanations.
Explore the concept of a Bilateral Monopoly, a unique market structure characterized by a single buyer and a single seller, with insights into its economic implications and practical examples.
A comprehensive exploration of bilateral monopoly, where a single buyer faces a single seller, examining its implications, history, and key concepts.
The tendency for consumers to prefer products with familiar brand names and frequently buy brands they have used before, influencing market dynamics and making it challenging for new suppliers to enter.
A comprehensive overview of economic bubbles, historical context, key events, types, significance, and related concepts.
An in-depth exploration of competition, its types, historical context, key models, and its importance in economics and beyond.
An in-depth look at the interaction between companies as they strive for market dominance, influenced by each stage of the Market Life Cycle.
An in-depth examination of competitive rivalry, its definition, types, implications, examples, and historical context. Understanding the dynamics that drive competition between firms in various industries.
An in-depth exploration of consumerism, an economic philosophy emphasizing consumer protection and the organization of economic life for the benefit of consumers over producers.
A market characterized by low barriers to entry and exit, where potential competition restrains prices even with minimal incumbents.
Cut-throat competition refers to the intense rivalry between suppliers of goods or services, characterized by aggressive tactics such as price cutting that threaten the survival of some or all competitors.
An in-depth exploration of demand in economics, covering its historical context, types, key events, explanations, mathematical models, applicability, and more.
A comprehensive analysis of the demand curve, its components, implications, and applications in economics.
An in-depth exploration of why closed-end fund shares trade below their Net Asset Value (NAV).
Dynamic Adjustment refers to the process through which market prices and quantities adapt over time due to changes in demand and supply. This entry covers definitions, theoretical frameworks, examples, historical context, and common questions.
Elastic Supply refers to a condition in which the quantity supplied of a good or service significantly changes in response to variations in its market price.
An in-depth look at the Elasticity of Supply, the economic measure of how the quantity supplied responds to changes in price.
An in-depth examination of the elasticity of supply, exploring its definition, types, importance, applications, formulas, and much more.
A comprehensive overview of excess capacity, where a firm produces less than its maximum potential, including historical context, strategic importance, examples, and FAQs.
Understanding Excess Supply: Causes, Effects, and Economic Implications
Excludable goods are those that can prevent others from consuming them once purchased or owned. This type of good is integral in economics to understand market dynamics and consumer behavior.
Exploring the Dynamics, Legal Implications, and Economic Impact of Exclusive Dealing Agreements
EXIT refers to the departure of a firm from an industry due to financial distress or expressing dissatisfaction by leaving unsatisfactory situations, contrasted with 'voice'.
A comprehensive guide to Fast-Moving Consumer Goods (FMCG), their definition, types, market characteristics, and their significant role in the global economy.
An in-depth exploration of the concept of fire sales, where assets are sold quickly, often at deeply discounted prices, including historical context, types, key events, explanations, importance, and more.
An in-depth exploration of the Flexprice economic model, where prices adjust faster than quantities, contrasted with the Fixprice model.
Gazundering occurs when a property buyer reneges on an agreed price and offers a lower amount, exploiting market conditions where prices are falling and properties are hard to sell.
An integrated state where supply and demand are balanced across multiple markets simultaneously, ensuring comprehensive market stability.
A comprehensive guide to understanding glut, its causes, impacts, and the economic implications of oversupply.
A comprehensive exploration of imperfect competition, where market participants can influence prices, including monopolies, oligopolies, and monopolistic competition.
Income Elasticity measures how much the quantity demanded of a good responds to changes in consumers' incomes, providing key insights into consumer behavior and market dynamics.
An in-depth analysis of the industry supply curve, its historical context, key events, types, models, and real-world applicability.
Inelastic Supply occurs when the elasticity of supply is less than 1. This means a percentage increase in price results in a smaller percentage increase in quantity supplied, indicating difficulty in scaling production or attracting new firms.
The Insurance Cycle, sometimes referred to as the underwriting cycle, denotes the recurring phases of soft and hard markets within the insurance sector. It affects pricing, availability, and insurer profitability.
Explore the concept of joint demand, where two goods are demanded together, such as printers and ink cartridges. Learn about its dynamics, historical context, examples, and related terms.
An in-depth exploration of joint supply conditions, where outputs are produced together, either in fixed or variable proportions, with implications on supply curves and production costs.
A comprehensive exploration of the term 'Lemon,' referring to an unsatisfactory product, particularly in the context of market dynamics, second-hand goods, and quality assurance challenges.
Limit Pricing is a strategy used by incumbent firms to set prices low enough to discourage new competitors from entering the market.
A detailed exploration of the forces and factors that impact supply, demand, and pricing within a market, including long-term and short-term adjustments.
An in-depth exploration of market equilibrium, where supply and demand are balanced at the prevailing price, including historical context, key events, models, importance, applicability, and related concepts.
An in-depth look at the forces of supply and demand that determine equilibrium quantities and prices in markets, contrasted with the influences of government and monetary authorities.
A Market Researcher focuses primarily on gathering market data and less on in-depth analysis compared to Market Analysts. This comprehensive article delves into their roles, methodologies, importance, and real-world applications.
The Market-Clearing Price is the price at which the quantity demanded by consumers matches the quantity supplied by producers, leading to market equilibrium.
An in-depth look at menu costs, their historical context, significance in economics, and their impact on price stickiness and market dynamics.
Explore the intricate dynamics of Monopolistic Competition, a market structure where firms act as monopolists but face competition due to product differentiation and potential market entrants.
The difference between the buyer's reservation price and the seller's upset price, which defines the scope within which a negotiation can occur.
Understanding Network Externalities and Their Impact on Product Value and Market Dynamics.
Orthodox Economics comprises the dominant or mainstream economic theories, with a primary focus on Neoclassical Economics. It includes various models and approaches essential for understanding market dynamics and consumer behavior.
Over-Subscription occurs when the number of shares applied for in a new issue exceeds the number on offer, leading to selective allocation and likely premium prices post-issue.
Parallel importing refers to the practice of importing goods through unauthorized channels, circumventing the exclusive distribution agreements that exist within certain markets.
Price control refers to the government regulation of the prices charged for goods and services in the market. It involves the setting of maximum and/or minimum prices by law to prevent prices from becoming too high or too low, often to ensure affordability and prevent shortages or surpluses.
Price Elasticity of Supply (PES) quantifies the responsiveness of the quantity supplied of a good or service to a change in its price. It is a critical concept in Economics, helping understand market dynamics.
A comprehensive exploration of price leaders, firms whose price changes influence the market, including types, historical context, key events, examples, and importance.
A comprehensive guide to understanding price stickiness, the resistance of prices to adjust promptly in response to shifts in supply and demand.
An in-depth look at the concept of Price Stickiness, its causes, historical context, importance, and implications in economics and finance.
A price war is a competitive situation where companies continuously lower prices to undermine competitors' profits, often leading to detrimental outcomes for all parties involved.
An in-depth exploration of price-setters in economic and financial contexts, their historical background, characteristics, models, examples, and significance.
A comprehensive overview of the economic concept of a price-taker, including historical context, types, key events, detailed explanations, mathematical models, importance, applicability, and related terms.
An in-depth exploration of private goods, characterized by their rivalrous and excludable nature, crucial in understanding consumption and resources in Economics.
Quantity Demanded refers to the amount of a good or service consumers are willing and able to purchase at a given price. It is a fundamental component in understanding market dynamics and is graphically represented by the demand curve.
The concept of relative price explains the rate at which one good can be exchanged for another, influencing economic choices and market dynamics.
A policy where the manufacturer controls the price at which a product can be sold by retailers, potentially impacting competition and market dynamics.
Understanding the concept of reservation price and its implications in economics and negotiations.
A system where deviations from equilibrium trigger reactions that restore the system to its initial stable state. This concept is pivotal in economics, showcasing how markets can stabilize without external interventions.
A comprehensive article on the economic process of Shake-Out, including historical context, types, key events, mathematical models, diagrams, importance, applicability, examples, and more.
Understanding the concept of Sticky Prices in Economics, including historical context, implications, examples, and related terms.
Stock appreciation refers to the part of the change in the value of stocks held by a business due to price changes. It is influenced by commodity prices, economic factors, and market dynamics.
An exploration of actions firms undertake to deter competitors from entering their markets, including large capital investments and long-term low-price contracts.
Supernormal profit, also known as abnormal profit or economic profit, occurs when a firm's profit exceeds the normal expected return. This attracts new competitors to the market.
The fundamental economic model explaining how prices and quantities of goods and services are determined in a market based on their availability and individuals' purchasing desires.
Supply and demand is a fundamental economic model that explains how prices are determined in a market based on the relationship between the availability of a product or service (supply) and the desire for that product or service (demand).
A comprehensive overview of the supply curve, its definition, historical context, types, mathematical models, and importance in economics and market dynamics.
A comprehensive examination of Supply Theory, focusing on the relationship between the price of a good and the quantity supplied. This includes historical context, mathematical models, key events, and its importance in economics.
Goods and services that can be traded across international borders, even if not always traded. Understanding the dynamics of tradable items in the context of global economics and trade.
Explore the concept of Aggregate Supply in Macroeconomics, its significance, components, historical context, and its relation to Aggregate Demand.
Barriers to Entry are the various factors that make it difficult for new companies to enter a particular market. These obstacles include high funding requirements, technological challenges, stringent licensing procedures, and more.
Consumer sovereignty refers to the ability of consumers to obtain exactly what they want by paying a price that satisfies suppliers, and it is considered a prerequisite of properly functioning markets.
Creative Destruction is a free-market concept popularized by economist Joseph Schumpeter, holding that economic progress results from entrepreneurial innovation, which in turn leads to the destruction of established businesses.
An in-depth exploration of the downward-sloping demand curve - fundamental to understanding consumer behavior, market dynamics, and pricing strategies in economics.
Dynamic Pricing involves charging different prices for the same product or service based on varying customer segments and contextual factors.
A comprehensive guide to understanding the concept of elasticity in demand and supply, including different types, historical context, and real-world applications.
The price at which the quantity of goods that producers wish to supply matches the quantity demanders want to purchase, optimizing market efficiency and maximizing profitability for manufacturers.
Understanding the distinction between external changes, which originate outside the production system, and induced changes, which arise due to market and input variations affecting production processes.
Explaining the phenomenon where a stock's price drops sharply, typically due to negative corporate developments, such as failed takeovers or underwhelming profits.
An in-depth look at the gray market, where products are sold by unauthorized dealers, often at discounted prices, with potential warranty and usage complications.
An in-depth look into the Greater Fool Theory, which suggests that the price of an overvalued stock or market can continue to rise as long as there are investors willing to pay a higher price.
Horizontal Conflict refers to the conflict between competitors within the same marketing channel, often resulting in market oversaturation and intense competition.
In-depth exploration of interindustry competition, where businesses from different sectors compete for the same market opportunities or contracts.
An in-depth exploration of knock-offs, their implications, market impact, legal considerations, and differentiations from counterfeits and replicas.
The Law of Supply and Demand is an economic proposition illustrating how the relationship between supply and demand determines price and quantity in a free market.
An in-depth and comprehensive guide on Leakage, illustrating the phenomenon where the anticipated business is lost due to various factors.
An in-depth look into the concept of the Long Run in Economics, exploring its implications, historical context, examples, and applications in various industries.
An in-depth analysis of overproduction, its causes, impact on the market, and relation to economic principles and cycles.
An in-depth exploration of predatory pricing, its strategies, legal implications, and historical context.
Understanding Price Flexibility: Analyzing the Economic Circumstance Where Prices Vary Considerably
Price inelasticity refers to a situation in which the quantity demanded or supplied of a good or service is relatively insensitive to changes in price.
An in-depth look at the role of a price leader in oligopolistic industries, including how their pricing decisions influence market dynamics.
The profit system is a critical component of the capitalist economic framework, wherein profit motivates entrepreneurial activities and shapes market production.
