Economic Idea- Information Asymmetry

By Kibash
Information asymmetry as defined by Investopedia is sometimes referred to as information failure, is present whenever one party to an economic transaction possesses greater material knowledge than the other party.

Economic Idea - Corner Solution and Interior Solution

By Kibash
Corner Solution
Corner Solution is a choice made by an agent that is at a constraint or corner, and not at the tangency of two classical curves on a graph,

5 Economic Concepts Consumers Need To Know

By Andrew Beattie
An understanding of economics isn't seen to be as vital as, say, balancing a household budget or learning to drive a car. However, economics has an impact on every moment of our lives because, at its heart, it is a study of choices and

Economic Idea- Privatization and Concession Agreement

By Kibash
What is Privatization?
It can simply be defined the process of transferring ownership of a business, enterprise, agency, public service, or public property from the public sector (a government) to the private sector, either to a business that operates for a profit or to a nonprofit organization. Privatization  may also mean the government outsourcing of services or functions to private firms, e.g. revenue collection, law enforcement, and prison management.
Privatization could be of five major forms , they are: