Chapter-4 Consumer’s Equilibrium Ordinal Utility Approach

ORDINAL UTILITY APPROACH INDIFFERENCE CURVES ANALYSIS AND CONSUMER’S EQUILIBRIUM  DEFINITION OF INDIFFRENCE CURVE: “Indifference curve is…

Chapter 3 Consumer’s Equilibrium Cardinal Utility

CONSUMER A Consumer is one who buys goods and services for satisfaction of wants.   MEANING…

Chapter-2 Central Problem of an Economy

Central Problem of an Economy Every economy in the world faces the economic problem of unlimited…

Chapter 1 Introduction

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

Chapter-5 Production Function

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

Chapter- 4 Demand

  DEMAND:   Demand is the quantity of a commodity that a consumer is willing and…

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