Commons refers to a shared resource that can be used by all. If everyone uses it appropriately, it can last. But few people tend to over…
Published on a year ago
You do this when you expect the value of a stock to go down. You borrow a stock from a broker and sell it immediately at the current price…
Published on 2 years ago
Ovarian lottery is a thought experiment created by Warren Buffet influenced by a book called "A theory of justice". The idea behind the…
Published on a year ago
Land Reform : Land in under developed countries are concentrated under few people because of feudalism or similar systems. This has to be…
Published on 6 months ago
Wrote the book 'Wealth of Nations'(1776) - that was the beginning of economics as a separate discipline. Before Adam Smith, people used…
Published on 2 years ago
Type of Economy depends on Ownership of Capital - Govt vs Private Central Coordination - Deciding what to produce. Govt Coordination vs…
Published on a month ago
Labor Capital Land / Natural Resources Entrepreneurship This model was introduced by [ Adam Smith : Grandfather of Economics ]
Published on a month ago