Archive | Static Economics

The below mentioned article provides a study note on comparative static economics.  Static economics deals with explaining the determination of equilibrium values with a given data. Any change in the determinants of equilibrium disturbs the equilibrium position. In other words, when there is a change in the factors which establish equilibrium of demand and supply, a new equilibrium position comes [...]

Let us make an in-depth study of Static Economics:- 1. Meaning of Static Economics 2. Scope and Importance of Static Economics 3. Limitations. Meaning of Static Economics: The word 'static' has been taken from physical science. It points to a position of complete rest. In other words, by static is meant a position where there is the absence of any [...]