Tuesday, 25 February 2020

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Calculation of National Income There are three different methods of measuring national income. These are product approach, income...

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Basic National Income Concepts National income is the aggregate of money value of the annual flow of final goods and services in ...

Monday, 24 February 2020

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Oligopoly ? Oligopoly is a situation in which only a few firms (sellers) are competing in the market for a particular commodity. ...

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Monopolistic Competition Monopolistic competition is a form of market structure in which a large number of independent firms are ...

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Imperfect Competition – Monopoly In the case of monopoly one firm constitutes the whole industry. There must be a single prod...

Sunday, 23 February 2020

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Market Structure – Perfect Competition In theory, perfect competition implies no rivalry among firms. In a perfectly competitive ...

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Laws of Production The law of variable proportion of says that as more and more of the factor input is employed, all other input ...

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Production Theory Production means conversion of inputs or resources into usable commodities or services. Inputs are the resource...

Saturday, 22 February 2020

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Elasticity of Demand Elasticity of demand tells the degree of responsiveness of consumer to a price change. It is measured as: ...

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Consumer Behaviour (Utility Analysis) Marginal utility means the utility derived by consuming every next unit of same thing. Acco...

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Market Supply and Equilibrium Supply is the specific quantity of output that the producers are willing and able to make available...

Friday, 21 February 2020

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Market Demand In economics demand has a specific meaning. Demand for any commodity implies: desire to acquire it, willingness to ...

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Cost Analysis Costs enter into almost every business decision and it is important to use the right analysis of cost. Different bu...

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Introduction to Managerial Economics Managerial Economics combines economic theory with managerial practice. The subject offers p...

Thursday, 20 February 2020

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Web Services and Privacy ? Privacy over the Internet has increased some ethical issues, which is required to be dealt with. ...

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Privacy Technological Impacts ? RFID chips are everywhere – companies and labs use them as access keys. ? The tags work by broadc...

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Security Metrics and Privacy ? Good metrics are those that are elegant, i.e. specific, quantifiable, attainable, repeatable, and ...