Externalities (external effects) in the economy reflect the impact of market transactions to third parties, not mediated by the market. This term was coined in 1920 […]
Poverty is the lack of or inability to afford the basic human needs. The needs include nutrition, shelter, clean water, health care, clothing, education among others. […]
All over the world, there is growing evidence that SMEs play an important role in the national economic development of any country. SMEs are becoming more […]
Mercantilism Mercantilism was a sixteenth-century economic philosophy that maintained that a countrys wealth was measured by its holdings of gold and silver (Mahoney, Trigg, Griffin, & […]