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As of March 2026, the ongoing conflict between the United States and Iran was a major factor in the sharp increase in gas prices worldwide. The disruption of the Strait of Hormuz, a critical global transit route for a significant share of the world’s oil and liquefied natural gas flows, is a major contributing factor to this increase. Prices have significantly increased as a result of these supply-side limitations and the inelastic nature of energy demand. Gas is an essential

In an era defined by global technological advances and shifting supply chains, fiscal policy is not just about balancing books, but about shaping economic power. Fiscal policy is a macroeconomic policy where the government adjusts spending and taxation to influence the economy. As global growth slows down, countries are starting to aggressively compete for new capital, technological investment, and supply chain dominance. Manufacturing and AI infrastructure are becoming heavi

Demand and supply are two key principles that make up the backbone of economics. The demand for a product and the quantity of the product supplied to consumers willing to buy, are all dependent on the price of the product. Why do prices rise, fall, or remain stable? The answer lies in the interaction of demand and supply, which determines how markets respond to changes in consumer behaviour and production conditions. Demand is the want and willingess of consumers to buy a pro

Economics does not solely deal with market forces or money, but mostly depend on human behaviour and decision making. Individuals, firms and governments constantly respond to incentives, whether intended or unintended. Public policies influence economic outcomes by altering incentives, which in turn, shape individual and institutional behaviour. Generally, incentives encourage someone to do something. They are also known as a payment or concession to stimulate greater output

Economics is the study of market forces and how goods and services are produced, distributed, and consumed, as well as how scarce resources are allocated. A central issue underlying all economic activity is known as the basic economic problem . The basic economic problem arises due to the existence of scarcity and opportunity cost . Scarcity refers to the limited nature of resources available on the planet. Since all resources are finite, it is impossible to satisfy all hum