The Unemployment Rate

The unemployment rate refers to the share of the total labor force that is without a job but actively seeking work. It is one of the broadest and most widely available indicators of economic activity. In every economy there are always some people who¬†lose or quit their jobs, while others […]

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Positive and Normative Economics

There are two fundamentally different approaches to teaching economics: positive and¬†normative economics. This is important to know, depending on the approach chosen, the same topic may be presented in an entirely different way. Thus, being aware of this will help you gain a more comprehensive knowledge on economic issues. In […]

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