Meaning: The Capitalism is also called as free enterprise system. It is a system of economic organization featured by the private ownership and the used for private profit of man-made and natural made capital. Capitalism… What is Capitalism? Explain its features, merits and de-merits.
Introduction: The basic objective of the consumer is consumer is to derive highest level of satisfaction out of a given amount of money income. In order to achieve this objective, he will spend his limited… Explain the Concept of Consumer Equilibrium under indifferent analysis?
Introduction: The Law of Demand is a fundamental principle in economics that describes the relationship between the price of a good or service and the quantity demanded by consumers, assuming that other factors remain constant.… Briefly Explain the law of Demand with the help of schedule and graph?
Introduction: The concept of Consumer’s Surplus was first invented by a French economist Dupuit in 1844. Later it was popularized by Prof. Alfred Marshall in 1980. Because of this consumer’s surplus is also called as… Write a note on Consumer’s Surplus.
Introduction: The law of EMU is another law of consumption and an extension of law of diminishing marginal utility. The law is called as Gossens second law consumption. The original explanation of the law has… Explain the Law of Equi- Marginal Utility?
Introduction: The concept of utility was introduced in economics by Prof. William Stanley Jevons, an English economist. In economics, utility refers to the satisfaction or pleasure that a consumer derives from consuming a good or… Explain the Law of Diminishing Marginal Utility with the help of schedule and graph?
Introduction: In ordinary usage, only tangible or material thing, such as books, furniture, clothes, food etc. are called good. But in economics, a “good” refers to a tangible, intangible item that satisfies human wants and… WHAT IS GOOD ? EXPLAIN ITS CLASSIFICATION AND IMPORTANCE.
Meaning of Land: In economics, “land” refers to a factor of production that includes the natural resources found on or beneath the Earth’s surface. It includes everything from fertile soil, forests, minerals, and water to… DEFINE LAND? ITS IMPORTANCE AND FEATURES.
Meaning of Labour: Features and Types of labor are the important part of the topic labor. But before to this we under stand the meaning. In economics, “labor” refers to human effort, both physical and… Define Labour? Explain its Features.
Meaning of Supply: Features of supply is the important concept of the question but we also study the meaning of supply. In economics, “supply” refers to the quantity of a good or service that producers… What is Supply in Economics? Explain its Features.