Because it's More than a Subject
Economics Live The **Law of Demand** states that, *”Other things being equal, there is an inverse relationship between the price of a commodity and its quantity demanded.”* This fundamental economic principle suggests that as the price of a good or service decreases, consumers tend to purchase more of it, and as the … read more
Following are the functions of money: 1. Medium of Exchange The most important function of money is that it serves as a medium of exchange. In the barter economy a great difficulty was experienced in the exchange of goods as the exchange in the barter system required double coincidence of … read more
National income of a country can be defined as the total market value of all final goods and services produced in the economy in a year. The sum of all incomes of the people of a country is called national income. This national income is greatly related to the national … read more
Law of demand states the relationship between price and quantity demanded by assuming “other things remaining the same”. When there is a change in these other things, the whole demand schedule or demand curve undergoes a change. In other words, these other things determine the position and level of the … read more
In day-to-day language, we often consider meaning of demand as desire. Desire means an urge to have something. In Economics, demand means a desire which is backed by willingness and ability to pay. For example, if a person has the desire to purchase a television set but does not have … read more
Given some examples of solving question from Chain Rule. Follow the steps and solve rest of the questions given below. Question 1: Differentiate . Step-by-step solution: Question 2: Find for . Step-by-step Solution: Question 3: Differentiate . Step-by-step Solution: Question 4: Find for . Step-by-step Solution: Question 5: Differentiate . … read more
Questions Answers 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30.
Questions Answers 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30.
Note(For mobile users): For better view request for desktop site and/or rotate your phone to landscape mode. Questions Answers 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30.
The pure public good has been the subject of most economic analysis of public goods. In many ways the pure public good is an abstraction that is adopted to provide a benchmark case against which other, more realistic, cases can be assessed. A pure public good has the following two … read more