EconDose

A better way to learn Econ

A better way to learn Econ

A better way to learn Econ

“What is EconDose?"

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What is Variable Cost? Variable cost is a cost of production that depends on the quantity produced. How...

The price elasticity of demand is the amount by which demand for a given product changes in response...

What is Per Capita? Per Capita means literally per head, and it’s used to denote an average value...

What is a Public Good? A public good is a good or service for which it is not possible to establish...

What is Producer Surplus? Producer surplus is the difference between the price that producers receive...

What is the Output Gap? The output gap is the difference between actual output and potential output. How...

What is Imperfect Competition? Imperfect competition is the case of a market with a small number of...

What is Economic Profit? Economic profit is the difference between the revenue realized by a producer...

What is Consumption? Consumption is the spending by households on goods and services, with the...

What are Barriers to Entry? Barriers to entry are conditions that prevent firms from freely entering...

What is a Bank Run? A bank run is a sudden rush of depositors seeking to withdraw funds from the banking...

What is a Comparative Market? A comparative market is a market with many buyers and sellers trading...