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…
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:
- Introduction To Economics
- Production Possibility Curve
- Demand Analysis
- Supply Analysis
- Forms of Market
- Money and Banking
- National Income
- Aggregate Demand
- Aggregate Supply
- Balance of Payment
- Government Budget
Showing 48 results for "Microeconomics"
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…
Terms related to Production Concept
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…
What is the Production Function?
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…
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…
Difference between a movement along the demand curve and shift in demand
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…
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…
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