Cost push inflation occurs when supply costs rise or supply levels fall. As long as demand remains the same either will drive up prices
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isoquant is a combination of any two factor inputs that represents and produce the same level of output.
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Cost analysis is concerned with determining the money value of input used for production which is called as overall cost of production.
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Return of scale refers to proportionate change in productivity from proportionate change in all the inputs.
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Fiscal Policy refers to the methods employed by the government to influence and monitor the economy by adjusting taxes and/or public spending
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the cross elasticity of demand is the percentage change in the quantity demanded of commodity X to the percentage change in the price of its substitute/complement Y
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Demand-pull inflation exists when aggregate demand for a good or service exceeds aggregate supply.
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A trade cycle refers to fluctuations in economic activities especially in employment, output and income, prices, profits etc.
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Monetary policy is the process of drafting, announcing, and implementing the plan of actions taken by the central bank, currency board, or other competent monetary authority