Meaning: The difference between micro and macro economics is huge. Microeconomics is a branch of economics that focuses on the behavior and interactions of individual economic units, such as households, firms, and industries, and their… Distinguish between Micro and Macro economics.
Introduction: In economic theory, the law of variable proportion occupies an vital place. It is one of the fundamental laws of production. The law of variable proportion is the new name for the well known”… Briefly Explain the Law of Variable Proportions?
Meaning: The total income of the nation is called national income. The aggregate economic performance of the whole economy is measured by the national income data. In fact national income data provides summary statement of… What is National Income? Explain the importance of National Income Estimation?
Meaning: The total income of the nation is called national income, the aggregate economic performance of the whole economics is measured by the national income data. In fact national income data provides summary statement of… Define National Income? Explain the methods of Estimation of National income.
Introduction: National income accounting is not an easy task .A number of difficulties arise in the measurement of National income. Some of the difficulties in the estimation of national income are discussed below. Difficulties in… Explain the difficulties in the Estimation of National Income?
Meaning: The total income of the nation is called national income. The aggregate economic performance of the whole economics is measured by the national income data. In fact national income data provides summary statement of… What is National Income? Explain the concepts of National Income?
UNIT WISE IMPORTANT QUESTIONS: UNIT: 1. INTRODUCTION TO ECONOMICS. TEN MARKS QUESTIONS. SIX MARKS QUESTIONS. UNIT – 2 . THEORIES OF CONSUMPTION. TEN MARKS QUESTIONS. SIX MARKS QUESTIONS. UNIT – 3 – PRODUCTION. TEN MARKS… ECONOMICS – 1 – PRINCIPLES OF ECONOMICS
Meaning of Capital: In ordinary the term capital means cash or money, but in economics capital does not means only cash it means wealth that is used for producing additional wealth in other what it… Explain the Properties of Capital and Organization?
Meaning of Land: The term land mean the surface of the earth of soil in ordinary term .but in economic the term lands means not only soil but also all other natural resources available to… Explain the properties of Land and Labor?
Meaning of Economies of Scale: Economies of scale refer to the cost advantages that a business or organization can achieve as a result of an increase in the scale of production or size of operations.… Explain the Economies of Scale.