Cost and Revenue Analysis : Basic Concept of Cost of Production Economics notes Class 11 -12
Basic Concepts of Cost of Production: Money Cost / Accounting Cost / Explicit Cost: Money cost refers to money […]
Basic Concepts of Cost of Production: Money Cost / Accounting Cost / Explicit Cost: Money cost refers to money […]
Law of Returns to Scale In the long run all factors of production are variable as
Law of Variable Proportions: Law of variable proportion is an extension of an another law – Law of
Production : “The act of making goods and services and thereby adding utility
Price Control: Price control is a regulatory mechanism used by government to achieve the social economic goals of
Importance of Time Element The price of a commodity is determined at a point where demand is
Special Cases of Equilibrium We have studied the effect of change in demand and supply on
Effect of Shift in Demand and Supply on The Equilibrium Price: The market is said to be
Measurements of Price Elasticity of Supply: We know that supply of a commodity is directly related to the
Equilibrium Price and Quantity in a Competitive Market Equilibrium The term equilibrium means the state of balance.