Macroeconomics Class 12 Notes | Cbse Revision Notes Class 12 Macroeconomics is an interesting subject. In Class 12 Macroeconomics we…
What is Production Function? Production is a process of transforming tangible and intangible inputs into goods or services. Raw materials,…
Supply is the total quantity of a commodity that a seller would be willing to produce and sell at a given price, during a given period of time.
Demand means the various quantities of goods that would be purchased per time period at different prices in a given market.
A curve showing different combinations of two commodities giving the same level of satisfaction to the consumer is called the indifference curve.
The Law of Diminishing Marginal Utility is based on the assumption that as a consumer consumes more and more units of a commodity, its severity of want declines, due to this, the marginal utility derived from the commodity also declines.
ility analysis, a subset of consumer demand theory, provides insight into an understanding of market demand and forms a cornerstone of modern microeconomics.
What is National Income? A national income estimate measures the volume of commodities and services turned out during a given…
The theory of distribution or the theory of factor pricing deals with the determination of the share prices of four factors of production, viz., land, labour, capital and organization.
What is Business Economics? Business Economics, also called Managerial Economics, is the application of economic theory and methodology to business.…
