ECONOMY

The business cycle is a long-term fluctuations of economic activity characterized by periods of growth, contraction, and recovery. It is a series of alternating periods of economic expansion and contraction, generally occurring over a period of five to ten years. Key phases of the business cycle: 1. Expansion:– characterized by growth in GDP, employment, and […]

A scalar chain is a sequence of scalar values arranged in a particular order. Each scalar value is associated with a specific point on a chain and is represented by a scalar variable. The scalar variables are related to each other by a scalar relationship. Key Features of Scalar Chains: Examples of Scalar Chains: Uses […]

Definition: Devaluation is the process of reducing the value of something, typically a currency, a security, or a commodity. It can occur through various factors, including economic instability, rising inflation, and changes in supply and demand. Causes: Examples: Effects: Prevention: Conclusion: Devaluation is a process of reducing the value of an asset. It can be […]

Marxism is a theory of social organization based on the principles of historical materialism and the theory of the proletariat. It proposes that the history of human societies is a struggle between two fundamental classes: the proletariat (the working class) and the bourgeoisie (the owning class). Key principles of Marxism: Major Marxist theorists: Marxist ideologies: […]

A key performance indicator (KPI) is a quantifiable measure that track progress towards achieving a specific goal or objective. KPIs are used to monitor and evaluate performance across various areas of a business, including: Types of KPIs: Benefits of KPIs: Examples of KPIs: Best Practices for KPI Selection: Conclusion: Key performance indicators are essential for […]

The Bretton Woods Agreement was a set of monetary arrangements established at the 1944 Bretton Woods Conference. It was designed to stabilize exchange rates, reduce trade barriers, and promote economic growth. Key Features of the Bretton Woods Agreement: Impact of the Bretton Woods Agreement: Legacy: The Bretton Woods Agreement had a profound impact on the […]