Absolute Advantage Concept It’s said that a country has an absolute in the production of a certain good if it’s more efficient in the production of that same good, this is if it can produce bigger quantity for each factor unit of the production used. However, according to the Comparative Advantage Law, developed by David […]

Active Interest Rate Concept: Active Interest Rate refers to the interest rate charged by the banks for the money lent to their clients. Designates by…

Adam Smith Biography Considered the father of modern economy, Adam Smith was born in Scotland, probably in 1723, having deceased in 1790. His book “The Wealth of Nations”, edited in 1776, was and continues to be a book of reference for all economists. Before this book, in 1759, Adam Smith had already published the book […]

Added Value Concept: In economy, the expression added value designates the difference between the value of produced goods and the costs of…

Agenda 2030 is a document drawn up by the United Nations as a compromise to ensure the implementation of the principles of sustainable development.

Sherman Act Presentation: The Sherman Act (or Sherman Anti-Trust Act) is one of the North American anti-trust laws. Despite the…

Assets Concept: Assets is an accountancy concept that represents the group of all goods and rights, tangible or intangible, held by a certain individual or…

Available Income Concept: Available Income corresponds to the income which the overall families of a certain economy have available to…

BRICS – Brazil, Russia, India, China and South Africa are a set of five countries that have stood out on the world stage for the rapid growth of their developing economies.

Budget Restriction Concept: The expression Budget Restriction designates a group of goods’ combinations possible to be consumed by a certain consumer…