Economics

Utility

Topics Covered: Definition of Utility Approaches to Utility Cardinal Utility Ordinal Utility Types of Utility...

Topics Covered: Gross Domestic Product (GDP) Gross National Product (GNP) Gross Domestic Product (GDP): Gross...

Topics Covered: Definition of cross elasticity of demand Types of cross Elasticity of Demand...

Topics Covered: Positive Income Elasticity of Demand Income Elasticity greater than one (Ey > 1)...

Topics Covered: Increasing Returns to Scale Decreasing Returns to Scale Constant Returns to Scale Law...

Value of money is the purchasing capacity of money relating to the price of goods...

Money is anything that is generally acceptable as a medium of exchange, common measure,...

Perfect competition is the market structure where there is a large number of buyers...

The ISO-cost line is a graphical representation of the iso-cost schedule showing the various...

1. Application of indifference curve on tax 2. Application of indifference curve on subsidy...