You might have heard in the news might have heard that the US economy has contracted in the first quarter of 2022. When we talk… Read More »GDP in the US decreased in the first three months of 2022
We know economics is all about putting resources to their best use, so we get the most out of it. Economists use a fancy term… Read More »What are the different types of economies in the world and where does the US rank in terms of economic freedom?
Has it ever happened to you while listening to the news that there is some big scary vague thing called the economy that’s just out… Read More »We hear this word so much in news, but what exactly is an economy?
The most talked-about topic affecting everyone for now almost a year is inflation. Your money loses its purchasing power, you need more money to buy… Read More »What is causing the prices to rise the world over? Understanding inflation and its causes
Economists have some simple key models to understand our complex economies. One such model is the circular flow model. This model comes handy when we… Read More »How is GDP calculated?
The most widely used indicator for the overall health and size of an economy is its GDP statistics. Government and businesses use these statistics to… Read More »What is GDP? In the world of LOL, BRB, IDK, should I need to know another acronym?
A lot of people think economics is all about money, banks, complicated graphs, and mathematical modeling, but truly speaking it is much more interesting than… Read More »What is economics and why should I learn it?
