Consumption Function
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 expenditure on goo…
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Consumption Function
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 propensity to con…
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Consumption Function
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 this conte…
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National Income
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- Depreciation…
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National Income
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
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 the sum o…
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National Income
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, the level…
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Indifference Curve Calculus
Meaning and Types of Elasticity of Demand
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 per unit…
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Circular Flow of Income and Expenditure
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 involve in d…
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