Category: Micro Economics
Factors Influencing Elasticity of Demand There are many factors on which the elasticity of demand depends. These factors influence the elasticity of demand of a commodity either individually or …
Measures to Promote Small Scale Industries in India Small Scale Industries have contributed a lot for the development of the economy of India. Still SSI face problems due to …
Advantages of Socialistic Economy The following are some of the advantages of Socialistic Economy. 1. Best Utilization of Resources Socialistic economy can bring about efficient and best utilization of …
Defects or Wastes of Monopolistic Competition The many defects of monopolistic or imperfect competition are referred to as wastes of competition. Five kinds of wastes or defects are enumerated. …
Methods of Economic Analysis Like any other science, Economics adopts two important methods in its investigations and formulation of laws and principles. The two methods are Deductive Methods and …
Limitations of Consumer’s Sovereignty Is consumer really an-undisputed ‘monarch’ in a capitalistic economy? Are there any limitations to his powers? To what extent can this consumer-king extend his authority …
Meaning of Capitalistic System Capitalism stands for an economic order in which the instruments of production (Land, Labour, Capital and Organization) are owned and controlled privately and production takes …
What is a Nominal Wage? Nominal Wages refer to the wages paid in terms of money. This can be called money wages. The remuneration received by labour in cash …
What is Speculation? By speculation is meant the purchase or sale of anything in the hope of profit from anticipated change in price. The essence of speculation lies in …
Role and Significance of Elasticity of Demand The concept of Elasticity of demand has significant role to play in economic theory and practice and we shall study the importance …