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Consumer's Equilibrium utility Analysis|Who is the consumer ?|What is meant by utility ?                      Who is the consumer ?   Any person who buys and consumes goods and services for consumption. It is called consumer.                  What is meant by utility ? Utility refers to the satisfaction derived from the consumption of something.   How is utility measured ?  Utility is measured in two ways.  i) Quantitative measure of utility  ii) Ordinal measure of utility              Quantitative measure of utility The countable measure of utility means the measure of utility in countable numbers or units;  Like - can be measured in the form of 1,2,3.             O rdinal measure of utility  Ordinal measured means that utility can only be given as an order according to ...

 what is Economic problems ?|What are the causes of Economic Problems ?             what is Economic problems ? The Economic problem is the problem of selecting limited resources with alternative uses to satisfy unlimited needs. What are the causes of Economic Problems ? i) Unlimited needs  ii) Limited resources  iii) Alternative use                              Unlimited needs  Man's needs are unlimited.humans being can satisfy all his needs completely.These goods are said to be scarce because their demand exceeds their supply,regardless of their cost.                         Limited resources  Most of the goods and services that satisfy humans needs are limited.These goods are said to be scarce because their demand exceeds their supply,regardless of their cost.         ...

 What is Microeconomics ?|What is Macroeconomics ?|What is Normative Economics ?|What is Economy ?|Centrally planned  Economy               What is Economics ?  Economics is the science of human behavior which is concerned with the distribution of limited resources in such a way that consumers can maximize their satisfaction,producers can maximize their profits and societies can  maximize their social welfare.         How many types of  Economics ?  There are two types of economics. i) Microeconomics ii) Macroeconomics               What is Microeconomics ? Microeconomics studies the economic activities of only one economic unit.             What is Macroeconomics ?   In the macroeconomic ,relationship or economic problems are studied at the level of the economy as a whole.            What i...

 Forms of Market|what is Market ?|Features of Monopolistic competition                      What is Market ? It is arrangement that facilitates the sale and purchase of goods and services by bringing buyers and sellers in contact with each other. Forms of Market  i) full competition ii) Monopoly iii) monopolistic competition  iv) Minorities                         full competition perfect competition is a form of market in which a large number of buyers and sellers buy and sell identical goods at prices set by the industry.               Full Competition features   i) Large number of sellers of firms: The number of sellers selling a commodity is so large that a decrease in the supply by any on firm has very little effect on the total market supply. ii) More number of buyers: Not only the number of seller...

 बाजार के रूप|Forms of Market                         बाजार क्या है ?  वह व्यवस्था है जो क्रेताओं तथा विक्रेता को एक दूसरे के संपर्क में लाकर वस्तुओं तथा सेवाओं की बिक्री एवं खरीद को सुविधाजनक बनाता है।                               बाजार के रूप i) पूर्ण प्रतियोगिता  ii) एकाधिकार  iii) एकाधिकार प्रतियोगिता  iv) अल्पाधिकार                       पूर्ण प्रतियोगिता  पूर्ण प्रतियोगिता बाजार का वह रूप है जिसमें बहुत बड़ी संख्या में क्रेता और विक्रेता उद्योग द्वारा निर्धारित कीमत पर समरूप वस्तु का क्रय -विक्रय करते हैं।                                  पूर्ण प्रतियोगिता की विशेषताएँ i) फर्में या विक्रेताओं की अधिक संख्या : किसी वस्तु को बेचने वाले विक्रेताओं की संख्या इतनी अधिक होती है ...