Three Types of Unemployment

The Three Types of Unemployment

Unemployment exists in every economy around the world. However, the percentage of workers who are unemployed and the reasons why they were laid off can be very different. Therefore, economists can use unemployment data as an economic indicator to assess the health of an economy. To do this, they differentiate […]

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Types of Costs of Production

Types of Costs of Production

To analyze and understand firm’s production decisions it is important to know the different types of costs they face during this process. There are a number of different types of costs of production that you should be aware of: fixed costs, variable costs, total costs, average costs, and marginal costs. […]

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