In economics class, markets are represented by neat supply and demand lines intersecting cleanly at an equilibrium. But in actuality, real-world markets are messy, nonlinear and unpredictable — much...

The law of diminishing returns is an economic theory that describes the limitations of the relationship between input and output. Often illustrated with the phrase "too many cooks in the kitchen," the...

In economics, The Broken Window Theory describes a concept regarding the implications associated with acts of disorder and misbehavior. Developed by social scientists James Q. Wilson and George Kelling...