Protectionism or free trade? Trying to find the best economic policy to enrich a country, these two theories have always been at the forefront. This debate continues to be thought-provoking till today. Protectionism: actions taken by the government to restrict imports by increasing taxes on goods and services bought from foreign countries.During the 15th century … Continue reading Protectionism or free trade ?
What is inflation? What is unemployment? Is there a relationship between them? If yes, how can we describe this relationship?In this article we’ll be trying to answer these questions in an attempt to bring you closer to these important economic concepts. The inflation: described as a general and durable increase in prices level because of … Continue reading Inflation vs unemployment
Usually economics is defined, by most academics, as a social science, to what extent can we consider this definition correct? What is a social science:social science is a branch of science that includes any academic study about societies and relationships and deals with human behavior in its different aspects. Let’s see how conform is economics … Continue reading Economics as a social science
Economics, one of the fields that relate the most to our day-to-day life, is a vast subject that encompasses various topics. Understanding what economics is all about is the first step toward understanding the forces that shape our lives. What is economics? Economics is a field that studies how people (individuals, businesses, and governments) make choices … Continue reading Definition of economics