Tag: Study Notes Online

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...

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...

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...

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...

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...

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...

COST & BENEFIT ANALYSIS Rational choice is the choice based on pure reason and without succumbing to one's emotions or whims. Consumers can decide about...

what is fiscal policy? Explain the objectives of fiscal policy fiscal policy is the management of public finance by the govt. to influence the economy...

TOTAL REVENUE AND ELASTICITY Total revenue (TR) = Price x Quantity (P x Q) Elastic demand means when price of any product increases, its demand decreases...

ELASTIC AND INELASTIC DEMAND Slope and elasticity of demand have an inverse relationship. When slope is high elasticity of demand is low and vice versa. When...