What is Revenue? Types of revenue.
Revenue is the total repeats of the firm by selling output. It is the amount of money, which the firm receives by the sale of its …
What really capital formation is | Process of Capital Formation
Capital formation means increasing the real stock of capital of a country. It is the process of building up the capital stock of a country …
What is Market Equilibrium | All about market equilibrium 2021
Market equilibrium is a state of perfect balance in the market brought about by the equality of market demand and market supply. Demand for a …
Why does the Supply Curve Slope Upward from Left to Right?
The supply curve SS is obtained by plotting the supply schedule and joining the various points. The reason behind the positive relationship between the price …
Is Economics a Science or an Art?
Economists differ regarding the nature of economics. To know the nature of economics, it is necessary to know whether economics is a science or an …
Concept Of Utility
What is the concept of Utility in Economics The concept of ‘Utility’ was introduced by Jeremy Bentham in the 1780s. The concept was adopted in …