Chapter-2 Central Problem of an Economy

Central Problem of an Economy Every economy in the world faces the economic problem of unlimited wants and limited resources….

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Chapter-1 , Introduction of Economics

  What is an economy? An economy is a system which provides people, the means to work and earn a…

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Chapter-12 Forms Of Market

MARKET The tern market refers not necessary to a place but always to a commodity and the buyers and sellers…

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Chapter-11 SUPPLY

SUPPLY supply of a commodity refers to a various quantities of a commodity that the producers are willing to sell…

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Chapter- 10 Production’s Equilibrium

Meaning of profit Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on…

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Chapter-9 REVENUE

REVENUE Revenue of a firm is its sale receipt or money receipt from the sale of a product.” For example,…

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Chapter- 8 COST

MEANING OF COST OR PRODUCTION COST Money expenditure incurred by a firm in production of a commodity is called the…

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Chapter-7 Production Function

CONCEPT OF PRODUCTION FUNCTION Production function is an expression of the technological relationship between physical inputs and physical output of…

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