Game Theory, Microeconomics
Introduction Game theory is a fascinating branch of economics that explores strategic decision-making in interactive situations. It provides valuable insights into how individuals and organizations make choices, considering the actions of others involved. In this...
Basic Economics Goals, Development Economics, Macroeconomics, Microeconomics
In the world of finance and investing, economic indicators play a crucial role in providing valuable insights into the overall health and direction of the economy. These indicators serve as important signals, guiding investors, policymakers, and businesses in making...
Microeconomics, Perfect Competition
In the world of economics, perfect competition is a market structure that holds great significance. It represents an ideal scenario where numerous buyers and sellers engage in the exchange of goods or services, with no individual entity having the power to influence...
Econometrics, Macroeconomics, Microeconomics, Misc, Statistics
I have created this index of all the articles of econtutorials. I think that it is feasible for the students to have a complete look of the whole website and the content that it includes. This will enable all the readers to go through each article and let us know what...
Game Theory, Microeconomics
Types of Game Theory Cooperative Game : It is an economic game played by firms in which players or firms can negotiate on binding contracts which allows them to make mixed or joint strategies. Example: Ahmed and Ali are buyer and seller respectively and they are...
Game Theory, Microeconomics
To understand the game theory , one must be familiar with the exact definition of word “Game” . The word game means ” Any physical or mental activity that humans do for the sake of pleasure or simply the competition between two players”. So,...
Macroeconomics, Microeconomics
Circular flow of income is a neoclassical model which tells us how income or money circulates in an economy. Circular flow of income means that income and expenditure in an economy are related to each other in a circular way. Receiving of income and production of...
Microeconomics, Monopoly, Perfect Competition
One of the very important Perfect and Imperfect markets namely Perfect competition and Monopoly has always been studied in every foundation course of Economics. These are the distinguishing features of both the markets. Perfectly Competitive Market – Perfect...
