Explain the Subsistence theory of wages.
Introduction: The subsistence theory of wages originated by the French economist in the 18th century and was developed…
Write a note on Risk bearing theory and Uncertainty theory of profit?
Risk bearing theory of profit: This Theory of risk bearing was put forwarded by American economist professor Bernard…
Write a note on loanable funds theory.
Introduction: According to classical economist the rate of interest is the price paid for the use of capital.…
Explain the concept of Quasi rent.
The concept of quasi rent was first introduced by Marshall. He explained that besides land, other factors also…
Explain the Marginal productivity theory of wages.
Introduction: The Marginal Productivity Theory of Wages is an economic theory that explains how wages are determined in…
Explain the modern theory of rent?
Introduction: Ricardo was of the opinion that rent arises due to differences in the fertility of land but…
ECNOMICS-1 PRINCIPLES OF ECONOMICS.
MODEL ANSWER PAPER UNIT- 1 Q. 1. Critically explain the wealth definition of economics? The wealth definition is…
Explain the cost concepts under short-run and a long-run.
Meaning: In general terms cost refers to an amount to be paid or given up for acquiring any…
IMPORTANT QUESTIONS- ECONOMICS -1
UNIT WISE QUESTIONS.PRINCIPLES OF ECONOMICS: TEN MARKS QUESTIONS: UNIT-1- Introduction to Economics: SIX MARKS QUESTIONS: TEN MARKS QUESTIONS:…
Explain the Types/concepts of Revenue.
Meaning: In economics, revenue refers to the total income generated by a firm from selling goods or services…