In this article we will discuss about:- 1. Introduction to Cobweb Theory 2. Assumptions of Cobweb Theory 3. Criticism 4. Conclusion. Introduction to Cobweb Theory: The Cobweb Theorem attempts to explain the regularly recurring cycles in the output and prices of farm products. Frankly speaking, it is not a business cycle theory for it relates only to the farming sector [...]
In this article we will discuss about Trade Cycle:- 1. Meaning of Trade Cycle 2. Features of a Trade Cycle 3. Phases 4. Theories. Meaning of Trade Cycle: A trade cycle refers to fluctuations in economic activities specially in employment, output and income, prices, profits etc. It has been defined differently by different economists. According to Mitchell, "Business cycles are [...]
Let us learn about Business or Trade Cycle. After reading this article you will learn about: 1. Meaning of Business Cycles 2. Characteristics of Business Cycles 3. Phases of a Business Cycle 4. Theories 5. Control. Meaning of Business Cycles: A capitalistic economy experiences fluctuations in the level of economic activity. And fluctuations in economic activity mean fluctuations in macroeconomic [...]