Industry means place where the resources are converted into finished or useful products. There are basically three types of industries. I) Primary industry II) Secondary
Commerce includes all those activities which are necessary for maintaining the free flow of goods and services from the producers to the ultimate consumers. Branches
Dear Friends, you must have heard about business, employment and profession. Many of us want job that is employment but many of us want to
Today we will discuss the concept of human activities in business studies. Different activities which are performed by human beings for the satisfaction of their
The concept of total product, marginal product and average product is very important in economics. Let us discuss them one by one: TOTAL PRODUCT (TP):
Today we will discuss about concept of production function and its types. It is the functional relationship between physical input and physical output of a
These are the factors which decide the demand elasticity of the consumer. The elasticity of demand may be more elastic or less elastic. The six
There are sometimes exceptions to the law of demand: 1. Articles of distinction: it is also called Veblen effect. According to Prof. Veblen, there are
Last time, we have discussed about the concept of demand. Today we will show that there is an inverse relationship between demand and quantity demanded.
Today we will discuss about concept and assumption of law of demand. First, let us discuss about concept of demand. Concept of Law of demand
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