Category: Random Articles
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Supply is defined in economics as the total amount of a particular product or service a supplier provides to a consumer at a particular time and price level. It is usually determined by market movements. Sellers of goods and services constitute the supply side in a market economy. We know that the term “demand” refers to the quantity of a good or service that consumers are…
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We can define social work as any activity which is for the benefit of a particular population in the society. Not all the people in our society have the access to basic facilities to live a normal life. That is why there are several NGOs and other organizations which helps think kind of people in…
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HEALTH HAI TO WEALTH HAI There is this old saying that, ‘sar salamat to paghdi hazar’ which means if your health will be good then everything else can be achieved. Since the pandemic has happened many people have become very much aware about their health and fitness. At the same time, there is large amount…
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Indifference curve Analysis: The ordinal utility approach is a very popular alternative and a more realistic way to describe customer demand. This approach uses a different tool, namely the indifference curve, to analyze consumer behavior and is based on consumer preferences. The approach is based on the belief that since human satisfaction is a psychological…
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Match 1 Venue: Rose Bowl Cricket Ground Date: 07.07.2022 Result:India won by 50 runs. Player of the match: Hardik Pandya India vs. England: It was good news for India as Rohit Sharma was fully recovered and he was back to captaining the side for India. Jos Buttler was captain for England. India won the toss…
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World Emoji Day is an annual unofficial holiday that takes place on July 17 and is intended to honor emoji; in the years since it was first observed, it has grown in popularity as an occasion for emoji-related product launches and releases. Thanks for Watching, use emojis to express and always be happy.
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What do we understand by “want” in economics? In economics, the term “want” refers to a wish, desire, or motive to own or/and use goods and services that give satisfaction. Want may arise due to physical, psychological, or social factors. We must choose between our urgent wants and our less urgent wants because resources are…
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Total Outlay Method of calculating price elasticity: The total expenditure or outlay made on it and the price elasticity of demand for that commodity are significantly related to each other. We can say that the price elasticity and total revenue received are closely related to one another because the total expenditure (price of the commodity…
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Based on values of price elasticity, economists have found it useful to categorize distinct types of demand behavior. Since we draw demand curves with quantity on the horizontal axis and price on the vertical axis,∆Q/∆P = (1/slope of curve). As a result, demand is less elastic for any given price and quantity combination, the steeper…
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Doctors! We never think about them until we are in pain. They treat us and mend us, and we thank the gods. On this doctor’s day, let us take time to appreciate some beautiful souls, the doctors. The first ever Doctors Day was celebrated on the 1st of July, 1991. It’s been two decades and…