What are the Factors Affecting the Price Elasticity of Demand?
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…
Under this category you will found the base level economics, that is, we will learn economics from an individual point of you. You will find beginners topics related to demand, supply, forms of markets and so on.
Showing 43 results for "Microeconomics"
Difference between a movement along the demand curve and shift in demand
We have gone through in detail the change in demand and change in quantity demanded. I was getting some requests to provide a proper difference between a movement along 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 on the price elasticity of demand. I…
What is the Price Elasticity of Demand?
This is one of the most scoring topics in microeconomics. Since you all have gone through the concept of demand, now in this post I will be explaining the meaning…
Change in Demand and Change in Quantity Demanded
The above-mentioned terms look similar. Isn’t it? But they are different from each other, and I know that students find them to be very confusing. Let me help you understand…
What are the causes of the downward sloping demand curve?
Hi everyone. We have seen the types of the demand curve, the law of demand, and the exceptions to the law of demand. Now, is the time to discuss the…
The law of demand and its determinants
We have seen the meaning and types of the demand curve. Today, I will be explaining the law of demand and its determinants. Determinants of demand are also known as…
The law of demand: Exceptions
The exceptions to the law of demand mean the goods or conditions where the law of demand is not applicable or does not operate. The law of demand states an…
The demand curve
Demand is defined as the quantity of a commodity that a consumer is willing and able to buy in the market, keeping other things constant (Ceteris paribus). For example, a…
Consumer Equilibrium Using Indifference Curve Analysis
Consumer equilibrium using indifference curve analysis is at a point where the consumer indifference curve touches the budget line. We have done consumer theory, consumer equilibrium using utility analysis, the…
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