Economics

Lancasterian Theory of Consumer Demand

It was developed by Kelvin Lancaster in 1966 It is also called the attribute approach of demand analysis According to […]

Demand Curve Derivation Using RPT Revealed Preference Theory (RPT) can also be used to derive the demand curve, where the

Economic Theories: Role and Assumptions Economic Theories An economic theory is a systematic explanation of economic behavior or economic phenomena.

Deductive Method in Economics The deductive method is a systematic approach to studying an economic issue where the analysis moves

Revealed Preference Theory(RPT) The Revealed Preference Theory (RPT) was developed by Paul Samuelson as an alternative to the earlier theories of