Important Curves & Graphs in Economics Kinked Demand Curve The kinked demand curve of oligopoly was developed by Paul M. Sweezy in 1939. The model explains the behaviour of oligopolistic organisations. It advocates that the behaviour of oligopolistic organisations remains … Continue reading →

Important Curves & Graphs in Economics Offer Curve The offer curve shows all pairs of imports and exports implied by the production possibilities of an economy and the indifference curves. J Curve A J-curve is a trendline that shows an … Continue reading →

Important Curves & Graphs in Economics Great Gatsby Curve The Great Gatsby Curve illustrates the relationship between income inequality in a country and the potential for its citizens to achieve upward mobility.

Important Curves & Graphs in Economics Beveridge Curve It is a graphical representation of the relationship between unemployment (on the horizontal axis) and job vacancy rate (on the vertical axis). ​ Wage Curve The wage curve is a graphical representation … Continue reading →

Important Curves & Graphs in Economics Engel Curve The Engel curve is a graphical depiction of how income changes the demand for a good. Rahn Curve It displays the relationship between government spending (on the horizontal) and GDP growth rate … Continue reading →

Important Curves & Graphs in Economics Laffer Curve The Laffer curve displays the relationship between tax rates and tax revenue collected by governments. It’s often used to illustrate the argument that cutting tax rates can result in increased total tax … Continue reading →

Important Curves & Graphs in Economics Environmental Kuznets Curve The environmental Kuznets curve suggests that economic development initially leads to a deterioration in the environment, but after a certain level of economic growth, a society begins to improve its relationship … Continue reading →

Important Curves & Graphs in Economics Kuznets Curve A Kuznets curve is a graphical representation of market forces and income as and when an economy develops. The Kuznets curve was first developed by economist Simon Kuznets in the 1950s and … Continue reading →

Shapes of Economic Recovery L–shaped recovery An L–shaped recovery is a type of recovery characterized by a slow rate of recovery, with persistent unemployment and stagnant economic growth.  L-shaped recoveries occur following an economic recession characterized by a more-or-less steep … Continue reading →

Business Cycle The business cycle is the rise and fall of economic activities that occur over time in an economy. It is also referred to as an ‘economic cycle’ or ‘trade cycle’. It is an alternate expansion and contraction in … Continue reading →