The concept of economic cycles is pivotal in understanding the fluctuations in the economy that impact our daily lives. These cycles consist of four main phases: expansion, peak, recession, and ...

This western concept of ‘economic man’ associates’ rationality with self-interest only and doesn’t look at the non-materialistic aspects that might be the driving force for an individual.

The invisible hand concept is closely related to laissez-faire economics, which proposes that government interference in the economy should be minimal and should run its own course.

A recession is "a contraction in economic activity," according to experts. During a recession, there is a range of decline spread across the economy.

The law of supply and demand is a fundamental concept of economics and a theory popularized by Adam Smith in 1776. The principles of supply and demand are effective in predicting market behavior.

How an abstract economics concept lets corporations off the hook by Christopher Marquis, opinion contributor - 08/15/24 12:30 PM ET ...