The brand of economics that looks at the behaviour of individuals and businesses. In other words, it examines how consumers and businesses react to changes in variables. For example, how do consumers react to price changes and how does quality affect this decision making.

cash cow

Cash Cow

A cash cow refers to a business or product that generates a steady and significant cash flow with minimal investment or effort required.

constant returns to scale

Constant Returns to Scale

Constant Returns to Scale (CRS) refers to a production or cost structure where increasing all inputs by a certain proportion leads to an equivalent proportionate increase in outputs or costs.

business ethics

Business Ethics

Business ethics refers to the moral principles and values that guide the behavior and decision-making of individuals and organizations in the business context.

Assembly Line

Assembly Line

Table of Contents What is an Assembly Line? Understanding the Assembly Line History of the Assembly Line Types of Assembly Lines Advantages of the Assembly Line Disadvantages of the Assembly Line Examples of Assembly Lines FAQs Assembly Line: Definition, Pros, Cons & Examples Written by Paul Boyce Posted in Microeconomics > Division of Labor Last


Antitrust Laws

Antitrust laws are regulations that promote fair competition and prohibit practices that restrict trade, prevent monopolies, and protect consumer welfare.

economic freedom

Economic Freedom

Economic freedom is the ability of individuals and businesses to make voluntary economic decisions and engage in free market activities without excessive government interference.



A cartel in economics is an organization or group of firms that collude to restrict competition and control market prices by coordinating their production levels and pricing strategies.