Microeconomics is an important subject for all commerce and humanities students. It talks about how money is created or how a person earns their livelihood in the day-to-day routine. You can learn several topics and can request your own topic via the contact form:
Solutions to the Numerical on Price Elasticity of demand, after learning the law of demand, meaning, and formulas of price elasticity of demand. Now, we will understand how to solve the numerical…
Important Formulas used in Microeconomics, Class XI, CBSE include formulas from introduction to Microeconomics, Demand, supply, and market. You can also download the formula list at the end of this…
Production Possibility Curve is a curve that shows various production possibilities of two goods given the resources and technology. PPC curve shifts when there is the growth of resources or…
Production possibility curve refers to a curve that shows different production possibilities in an economy given the resources and technology. The general shape for any economic production possibility curve is…
There are 2 tools used by the government to control or improve the prices of essential commodities. These tools are the price ceiling and price floor. Let’s understand this topic in…
The price ceiling is the maximum price the producer is allowed to charge by selling their goods and services. Let’s understand this topic in detail. A quick note: Subscribe to our website to…
Oligopoly refers to a market situation in which there are few firms selling homogeneous or differentiated products. For example, the car market is considered to be an oligopoly. In this…
A monopolistic market contains the features of the perfect competition and monopoly market. Monopolistic competition (market) refers to a market situation in which there is a large number of firms…
A monopoly is an imperfect market form. ‘Mono’ means single and ‘poly’ means to control, implying 1 seller. A monopoly refers to a market situation where there is a single…
Perfect competition is 1 of the form of the market. There are 2 types of market: Perfectly competitive market or Perfect Competition or Perfect Market.Imperfect competition. In this post, we…
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