July 2023 - PAID INSURANCE

What the mean of production

August 31, 2023July 21, 2023 by pritamkurrey111

What does the term Production mean? This is in fa some activity of making. In economics, production is th creation of utility in any form. In economics, by productior we mean the process by which man utilises or converts th natural resources, working upon them so as to make ther satisfy, human wants. Satisfaction of … Read more

Usefulness of Elasticity of Demand in Economic Theory and Practice This concept plays a significant role in economic theory and practice

August 31, 2023July 3, 2023 by pritamkurrey111

1. Price Fixation under Imperfect Competition and Monopoly – The individual producer under imperfect competition has to consider the elasticity of the demand for his product when he fixes its price. Likewise, the monopolist has to study the elasticity of demand of his commodity before he fixes its price. If his product happens to have … Read more