A business cycle is a cycle of fluctuations in the Gross Domestic Product (GDP) around its long-term natural growth rate. It explains the| Corporate Finance Institute
Normal goods are a type of goods whose demand shows a direct relationship with a consumer’s income. It means that the demand for normal goods| Corporate Finance Institute
A Giffen good, a concept commonly used in economics, refers to a good that people consume more of as the price rises. Therefore, a Giffen| Corporate Finance Institute
The concept of the "invisible hand" was invented by the Scottish Enlightenment thinker, Adam Smith. It refers to the invisible market force| Corporate Finance Institute
The Network Effect is a phenomenon where present users of a product or service benefit in some way when the product or service is adopted by additional users.| Corporate Finance Institute