Economics

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 …

The demand schedule of an individual for a commodity is a list or table of the different amounts of the commodity that are purchased the market at different prices per …

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 …

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 …

DEAMAND Meaning and Definition of Demand: The word ‘demand’is so common and familiar with every one of us that seems superfluous too define it. The need for precise definition arises …

1. Macro economics helps to know different types of macro variables such as aggregate production and investment, aggregate demand etc. which are very much important for the business students to …

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 …

5. To analyze the consumers’ behavior: Rational consumer’s go to the market with a certain amount of money. They coordinate between the ups and downs of commodity prices and his …

Following are the subject matter of micro economics: 1. Individual economic activities: Micro economics deals with the economic activities of individual in a society. How to earn money and how …

Micro economics or macro economics are complementary to each other. There are differences between the scopes of micro economics and macro economics. In spite of it, these two branches of …