What is CPI, PPI, WPI and GDP: Exploring the Different Types of Price Indexes

This article discusses the different price indexes used to measure inflation and changes in the cost of living. Price indexes are important economic tools used to track the price changes of goods and services. Governments, businesses, and investors use them to make informed decisions about policy, pricing, and investment. consumer price index (CPI): The first…

What Is Stagflation, and Why Is It Bad?

What Is Stagflation, and Why Is It Bad? Stagflation is an economic phenomenon that occurs when an economy experiences stagnant growth, high unemployment, and rising prices simultaneously. This phenomenon is a challenging economic condition can have severe consequences on an economy. In this article, we will discuss what stagflation is, its causes, its effects, and…

Title: Basic Economics by Thomas Sowell – A Summary of Key Concepts and Ideas

Introduction: Basic Economics is a book written by renowned economist Thomas Sowell, first published in 2000. The book summarizes the basic principles of economics and how they apply to various real-world scenarios. This article will summarize the key concepts and ideas presented in the book, highlighting the most important points in each chapter. Chapter 1:…