Explaining the concept opportunity cost
How are opportunity cost and comparative advantage interlinked? What is mean by opportunity cost? How does opportunity cost influence decisions? Why are they important for free trade? If you think…
Trade can make everyone better off
It is widely accepted proposition that trade always fuels business activities, empowers consumers to desire more, generates more jobs, saving, and overall living standards. In other words, at both ends,…
The law of demand and supply
In economics, the law of demand and supply is the most fundamental law that helps to determine the prices of commodities. It is useful for both producers and consumers as…
Social perspective of psychology
Social perspective of psychology is a kind of approach to study and investigate how, and what extent the behaviour, mind or mental processes are affected by the external social environment.…
Understanding psychology
Why does psychology need so many approaches to study? May be it is so dynamic considering its field of study. It is a discipline that studies human mind, behaviours, and…
Goals of Psychology
Actually, everyone is so curious to unfold the mysteries of minds one have in the specific situation. We know that mind is so complex factory of mental processes vital to…
Psychological perspective: structuralism
It is unlikely to understand the most dynamic discipline psychology by single lens. Hence, different lenses need to be operated to understand every domain and construct perfect whole. Simply, psychological…
Structuralism Vs functionalism in psychology
Everything is being done by the different schools of thought to proper understand the human behaviour and mind. Various approaches have been evolved ever since the beginning of modern discipline.…