Examlex
The lowest fertility rates in the world today are found in several African countries with TFR as low as 1.1 per cent.
Marginal Products
The additional output resulting from the increase of one unit of a specific input, holding all other inputs constant.
Separating Equilibrium
Separating equilibrium refers to a situation in a market, often under conditions of asymmetric information, where different types of people choose different strategies, revealing their type.
Pooling Equilibrium
A situation in a market where all types of customers receive the same offer or treatment from a seller because the seller cannot distinguish between different types of customers.
Microeconomics
The branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.
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