Production and Production Function
Production is the process of transformation of factor inputs into outputs. Also, production is the...
Category: Economics XII
Macroeconomics
Definition: The economics which deals with aggregate economic issues is called macroeconomics. The macroeconomic theory...
Definition, Subject matter, and Uses of Microeconomics
Definition: Microeconomics is a branch of economics that studies the behavior of individuals and...
WTO & SAFTA
World Trade Organization (WTO) WTO was established on 1 January 1995. Nepal became 147th member...
Nepal’s Foreign Trade
In the past, Nepal’s trade relation was only with India and China. But nowadays, its...
Meaning of Key Terms
Constant cost: Equal average cost of production at all the levels of output Opportunity cost:...
Balance of Trade/Payment
Balance of Trade Balance of trade is the summary of the total volume of exports...
Questions & Answers (Very Short – Trade & International Trade)
What do you mean by international trade? International trade is the means of exchange of...
Trade and Trade Barrier
Free Trade If the government does not impose any kind of restriction on export and...
Difference between Positive and Normative Economics
The major differenced between Positive and Normative Economics are listed below in Table
