How to Induce Consumption Propensity
In general, consumption propensity is nothing more than that of human tendency, with a variation in income, in relation to their expenditu...
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What Factors Affect Consumption Function
Before we proceed to a detailed description of factors affecting consumption function, let's study about the concept of average propensi...
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Is there really a psychological law in economics?
To know whether there is a psychological law in economics or not, if there is, how it functions, you should proceed a little ahead through t...
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Solved National Income Problems
1- Solved problems of national income measurement 1.1- Consider the following data for national income accounts and calculate, a- GDP b- Dep...
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National Income Measurement
1- Methods of Measuring National Income There are three main methods of measuring national income as follows.
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National Income
1- Meaning and Definition of National Income National income is the sum of incomes of all the citizens of a country. In other words, it is ...
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Principle of Effective Demand
1- Concept and Meaning The principle of effective demand is the beginning point of Keynesian Theory of Employment. In a capitalist economy, ...
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Calculus
Given the utility function of good x and y as, `\U=\x^{3/4}\y^{1/4}` Prices of good X and Y `\Px=6\and\Py=3` Budget `\B=$120` The point of t...
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How to Calculate Elasticity ?
Solved questions, 1- Tom purchased 10 units of a commodity when its price was $5 per unit. He purchased 12 units when its price falls to $4...
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Circular Flow of Income and Expenditure
1- Meaning of Circular Flow An economy consists of various economic agents like producers, buyers, sellers, consumers etc. These people inv...
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Scope and Importance of Macroeconomics
1- Scope of Macroeconomics Macroeconomics is the study of economic behavior and performance of the economy as a whole. It encompasses a wide...
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Solved Case Analysis Questions-1
This page consists of some examples of case analysis-type questions and their solutions.
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Meaning and Types of Elasticity of Demand
1- Elasticity of Demand Elasticity of demand refers to the responsiveness of quantity demanded of a commodity due to a change in any determi...
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Equilibrium of Demand and Supply
Equilibrium Generally equilibrium is a state in which various forces are in balance. In economics equilibrium is a situation in which the m...
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Law of Supply
1- Law of Supply The quantity of a commodity that is supplied is influenced by various determinants of supply like, the price of commodity, ...
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Concept and Meaning of Supply
Concept and Meaning of supply 1- Meaning of Supply In common sense, supply refers to the quantity of a commodity that a producer or a firm w...
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Movement along and shift in Demand curve
Movement & Shift in Demand Quantity demanded of a commodity is determined by various factors. As all other factors except the price rema...
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Issues in Macroeconomics
Issues in Macroeconomics Macroeconomics concerns with the way of behaving of the economy in general, with rapid economic growth and downturn...
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Law of Demand
1- L aw of demand Demand for products and service is impacted by various elements like the price of the products and service, earnings of bu...
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Demand Function
1. Demand function The amount demand of a product is impacted by its determinants for example the price of similar product, prices of relate...
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Introduction to Macroeconomics
1- Introduction to Macroeconomics The word economy comes from the Greek word 'Okimonos' which implies a dealing with a household.
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