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For attempting the worksheet on Sustainable development, please go through the following topics thoroughly: What is sustainable economic development?Global WarmingWhat is sustainable development?What are the strategies to achieve sustainable development…
Under national income accounting, we have seen the first two method: Value-added method, Income method, now we will understand the third and final method for the calculation of GDP, which…
It is important to study the terms related to production concept because they help us in understanding the contribution of different factors of production. Terms related to production concept include…
Being productive is not an inborn trait or quality. Anyone can become productive if they follow some specific rules or make a little change in their daily routine. Today, I…
The 5 marketing management philosophies include the Production concept, Product concept, Selling concept, the marketing concept, and the Societal marketing concept. Before understanding these philosophies, I will recommend visiting the…
We studied consumer behavior, demand, and also saw the relationship between price and quantity demanded. Now, we will level up a little bit and look at the producer behavior. In…
Students who are new to economics, they often get confused whether this subject adds any value or are they even interested in going through this subject. This post is only…
Price elasticity of demand refers to the responsiveness of quantity demanded due to change in its price. So, in short, price elasticity of demand shows, how demand gets affected due…
We have gone through in detail the change in demand and the change in quantity demanded. I was getting some requests to provide a proper difference between a movement along…
We have done the basic conversion in national income, which helped us in understanding the GDP calculation under the value-added method. Now, the second method to calculate GDP is the…
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