What are the types of Elasticity of Demand in Economics? And mention the effect of price change on the quantity demanded of any commodity through a table.
In: Economics
What do you understand by Elasticity of Demand? And what are the factors that affecting Elasticity of Demand ? Illustrate.
In: Economics
"Under Indifference Curves Analysis, price ratio and MRS are equal to each other at the equilibrium point." Explain it.
In: Economics
What is Indiference Curves Technique in Economics?
Explain the fundamental assumptions of Indiference Curves?
In: Economics
Define 'Cardinal Utility Approach' and 'Ordinal Utility Approach' in Economics?
Explain clearly how 'Ordinal Utility Approach' is superior to 'Cardinal Utility Approach' ?
In: Economics
Give an analysis of Law Equi-Marginal Utility with suitable example?
In: Economics
How does a consumer attain equilibrium by way of Law of Diminishing Marginal Utility? Elaborate.
What is the meaning of consumer's surplus? How do we calculate it by the concept of Diminishing Utility? How do price changes affect consumer's surplus?
In: Economics
What do you understand by Utility in Economics? Explain.
What do understand by Want in Utility? And what are the characteristics of Want?
What do you understand by 'Law of Diminishing Marginal Utility'? And what are the assumptions of 'Law of Diminishing Marginal Utility' in Economics? Illustrate.
In: Economics
What is meant by Law of Demand in Economics. And what are the factors that affecting Quantity of Demand in Economics. Expain it.
In: Economics
What is meant by Law of Demand in Economics. And what are the factors that affecting Quantity of Demand in Economics. Expain it.
In: Economics
What is meant by Giffen's Paradox? Explain with suitable example.
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What is Ricardian Theory of Rent in Economics? What are the assumptions of his theory? Illustrate in detail.
What are the Marginal Land according to the Ricardo? And is rent static, critically define it.
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What are the Functions of Profit in Economy? Describe in detail.
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What are the theories of Profit in Economics? Name them.
What is meant by Dynamic Theory, Risk-bearing Theory, Uncertainty Bearing Theory and Schumpeter's Innovation Theory? Illustrate these theoris one by one.
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What is meant by Determination of Rate of Interest in Economics? Define.
What do you understand by Loanable Funds Theory of Interest? What are the criticism of Loanable Funds Theory of Interest?
How rate of interest determined through loanable funds? Explain.
In: Economics