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Introduction to Statistics

Statistics play an important role in economics. Statistics mean quantitative information on facts and findings. In a Singular sense, statistics may be defined as the collection, organization, presentation, analysis, and…

GDP and Welfare

GDP is considered as an index of the welfare of the people. Welfare means the sense of material well being among the people. So, higher GDP indicates the greater welfare…

Marketing Mix: Product

The marketing mix involves creating a market offering to satisfy the needs and wants of the existing and potential customers. You can read a brief about the marketing mix. There…

Marketing Mix

Marketing mix involves creating a market offering to satisfy the needs of existing and potential customers. To create a market offering a business needs to take various crucial decisions like…

Total Cost, Total Fixed Cost, and Total Variable Cost

To understand the concept of the total cost, total fixed cost, and total variable cost, we will start with the meaning of cost, cost of production, and so on. I…

Worksheet – Development Experience of India, China, and Pakistan

Attempt this worksheet after revising the development experience of India, China, and Pakistan and the Development path of Pakistan. Go ahead, you can do it. Good luck! Worksheet 1. Why…

Real and Nominal GDP

We have seen the GDP aggregates, gross and net investment, Methods of GDP calculation and now we will learn about real GDP and nominal GDP. Which is considered to be…

What are the Functions of Marketing Management?

It is important to understand the functions of marketing management to realize how important a marketing management role is in creating the value of a product in a customer’s mind.…

The Law of Diminishing Returns to a Factor

This law is important to understand the contribution made by different factors of production in the production process. To understand this law, you must revise production function and terms related…

Worksheet on The Theory of Consumer Behavior

This worksheet is related to the below-mentioned topics on consumer behavior, make sure you have revised each of them before attempting the worksheet: Theory of Consumer BehaviorWhat is Cardinal Utility…

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