World Population Distribution, Density, Growth
population is the total number of humans currently living and was estimated to have reached 7,800,000,000 people as of March 2020.
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28 September 2021
National Income: Components, Importance, Methods, Limitation
What is National Income? A national income estimate measures the volume of commodities and services turned out during a given…
26 September 2021
What is national income?
Factor Pricing: Meaning, Factors of Production
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.
25 September 2021
What is Factor Pricing?
Business Economics: Definition, Characteristics, Scope, Nature, Importance, Difference
What is Business Economics? Business Economics, also called Managerial Economics, is the application of economic theory and methodology to business.…
21 September 2021
What is Business Economics?
Welfare Economics: Pigovian Welfare Economics
What is Welfare Economics? Welfare economics is the study of how the allocation of resources and goods affects social welfare.…
21 September 2021
What is Welfare Economics?
What is Profit Function? Fixed and Variable Factors
What is Profit Function? The profit function represents the maximum profit a firm may earn for various combinations of inputs…
20 September 2021
What is Profit Function?
Monopolistic Competition: Characteristics, Features, Equilibrium Under
Monopolistic competition is a market structure that lies between the extreme cases of competition and monopoly. Competition and monopoly lie at opposite ends of the market spectrum. Perfect competition and monopoly are rarely found in the real world and thus they do not represent the actual market situation.
19 September 2021
What is Monopolistic Competition?
Assumptions of Perfect Competition
What is Perfect Competition? Perfect competition refers to a market situation in which there are a large number of buyers…
17 September 2021
Assumptions of Perfect Competition
Perfect Competition: Features, Characteristics
What is Perfect Competition? Perfect competition is an uncommon phenomenon in the real business world. However, the actual market that…
15 September 2021
What is Perfect Competition?
Human Geography, Nature, Scope
Human geography studies the inter-relationship between the physical environment and sociocultural environment created by human beings through mutual interaction with each other.
11 September 2021
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