economics definitions

Top 15 International Economic Organizations

Reading Time: 5 minutes There are many international economic organizations. In this post, I’m going to give you important facts you must know about 15 of these international economic organizations. 1. International Monetary Fund (IMF) The International Monetary Fund (IMF) is a financial institution set up to manage the international monetary system. The IMF also aims to create favourable …

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Simple Explanation of Key Cost Concepts in Economics

Reading Time: 6 minutes   Do you wish to get a simple understanding of such terms as implicit cost, explicit cost, marginal cost, accounting cost, money cost, opportunity cost, overhead cost, social cost, total variable cost and many others as they are used in matters relating to economics and finance? If your answer is yes then I urge you …

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