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Law of Demand Curve/Diagram

Law of Demand Curve/Diagram:  Demand curve is a graphical representation of the demand schedule. According to Lipsey:” this curve, which shows the relation between the price of a commodity and …

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Law of demand

Law of demand:  Definition and Explanation of the Law: We have stated earlier that demand for a commodity is related to price per unit of time. It is the experience …

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Characteristics of Demand

Characteristics of Demand: There are three main characteristics of demand in economics. i.Willingnessand ability to pay.Demand is the amountof a commodity for which a consumer has the wiliness and also …

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Limitations of Micro Economics

Micro economics deals with the behavior or small parts and units of economics and their functions. But micro economics has some limitations which are discussed below: 1. Consideration of unrealistic …

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