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 idea of invisible hand
The ability of free market to recorrect its failures and maintain reasonable equilibrium in the absence of much interventions are called the idea of invisible hand proposed by Adam Smith.…
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…