Introduction: The word monopoly is a Latin word which is composed of two words mono and poly. meaning single and seller. A monopoly is market situation in which a single seller or a firm sells… What is Monopoly? explain its types.
Introduction: The subject matter of economics refers to the scope, focus, and areas of study within the field of economics. It comprises of the principles, concepts, and issues that economics seeks to understand and address.… Write a note on Subject matter of economics.
Introduction: The term oligopoly is derived from two Greek words oligoi and Pollein meaning a few to sell. Thus it is a market where there are few firms producing either identical product or differentiated product.… Explain the types of Oligopoly Market.
Introduction to Economics: Economics is often regarded as the queen of social sciences. As a starting point, it is essential and important, firstly to know what economics is about and what is the subject matter… Explain the meaning of economics.
Introduction: Macro economics is that branch of economics which deals with the study of aggregate or average behavior of the entire economy. In it we study the collective functioning of the entire economy. It deals… What is Macro Economics? explain its Advantages and Disadvantages.
Meaning: In economics, an indifference curve represents a graphical representation of combinations of two goods that provide a consumer with equal levels of satisfaction or utility. Indifference curves are used in microeconomics to illustrate consumer… What is an Indifference Curve? Explain the properties of an Indifference Curve.
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?
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?