Economics

Explain Cost of Production with the help of Schedule & Diagram

Explain Cost of Production with the help of Schedule & Diagram

Economics May 12, 2018 at 8:49 pm 3 comments

Explain the family of cost curves with the help of table & diagram. Or explain the classification of the cost of production with the help of schedule & diagram. Answer: Cost of production: The production process requires some inputs to be used. Every input has some price to be paid […]

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Price Elasticity of Demand Supply Point Arc Types of Elasticity

Price Elasticity of Demand Supply Point Arc Types of Elasticity

Accounts, Economics February 9, 2018 at 1:49 pm 0 comments

Elasticity is a term widely used in economics to denote the responsiveness of one variable to changes in another. Types of Elasticity There are four major types of elasticity Price elasticity of demand Price elasticity of supply Income elasticity of demand Cross price elasticity of demand Price Elasticity of Demand […]

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Elasticity Between Two Points

Elasticity Between Two Points

Business, Economics February 7, 2018 at 12:45 am 0 comments

Elasticity Between Two Points  Elasticity can also be calculated between two points. In this figure, elasticity from point K to L is -4. ЄKL = percentage change in Qd Percentage change in P = 16– 8 ÷ 6 – 8 8 8 = – 4 Since absolute value is greater […]

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Why We Use Percentage Change Rather Than Absolute Change in Elasticity

Why We Use Percentage Change Rather Than Absolute Change in Elasticity

Business, Economics February 6, 2018 at 3:45 pm 0 comments

WHY WE USE PERCENTAGE CHANGE RATHER THAN ABSOLUTE CHANGE IN ELASTICITY? 1. By using percentage changes and proportions we can avoid the problem of comparison in two different quantitative variables i-e Qd is measured in units and Price is measured in rupees. So by calculating percentages we can avoid the […]

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Importance of Industrial Sector in Economic Development

Importance of Industrial Sector in Economic Development

Accounts, Economics February 5, 2018 at 5:57 pm 4 comments

Introduction of Industrial Sector Importance of Industrial Sector in Economic Development or Industrial Development Plays a Vital Role in the Economics Industrial Sector is of great importance for economic development of country. It is historical fact that countries with strong industrial sector have showed more economic growth and development industrial […]

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Importance of Elasticity In Our Today’s Life

Importance of Elasticity In Our Today’s Life

Business, Economics February 2, 2018 at 3:59 am 1 comment

IMPORTANCE OF ELASTICITY IN OUR TODAY’S LIFE There is much more importance of the concept of elasticity in our life. The firm which uses advertising to change prices uses the concept of elasticity of demand of its product. Mostly firms set the prices of their product by viewing at the […]

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Theories of Communication in Economics

Theories of Communication in Economics

Business, Economics January 29, 2018 at 12:22 am 0 comments

Theories of Communication in Economics Electronic Theory Social Environment Theory Rhetorical Theory We have been discussing how important communication will be for your success in business communication. Communication does not occur haphazardly. Nor does it happen all at once. It is more than a single act. It is a dynamic, […]

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Unemployment in Pakistan

Unemployment in Pakistan

Economics January 23, 2018 at 5:00 pm 0 comments

Unemployment in Pakistan Introduction Background/ Review of the Literature 3. Research Objective Method and Design Significance and Conclusion References 1. Introduction Pakistan is the country with low literacy, high poverty, over population and unemployment. Pakistan is in the line of developing countries. The main causes of unemployment are limited resources, […]

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What Is Goods Market and Factors Market

What Is Goods Market and Factors Market

Business, Economics, Marketing January 19, 2018 at 11:59 am 0 comments

Goods Market and Factors Market Goods/product/commodity markets: Markets used to exchange final good or service. Product markets exchange consumer goods purchased by the household sector, capital investment goods purchased by the business sector, and goods purchased by government and foreign sectors. A product market, however, does NOT include the exchange […]

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Causes of industrial backwardness in Pakistan

Causes of industrial backwardness in Pakistan

Business, Economics January 18, 2018 at 3:58 pm 0 comments

Causes of industrial backwardness in Pakistan Causes of industrial backwardness in Pakistan are different types and nature these problems can be solved with sincere efforts of governments. Following measures are suggested to remove causes of industrial backwardness. SME, promotion Optimum diversification Labour intensive industries Tax concessions Industrial cities Peaceful environment […]

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