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Law of conservation of mass was proposed by Lavoisier & verified by Landolt. According to Law of conservation of mass law Matter is neither created nor destroyed in the course of c
Marginal utility - It is the measure of the additional satisfaction obtained from consuming one additional unit of good. * Marginal Utility: An instance - The marginal u
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
state the law of downward sloping demand
clarify the opportunity cost theory
central problems of capitalist economy
Q. Explain about Real Wages? Real Wages:Value of wages, adjusted for level of consumer prices. If nominal value of wages is growing faster than consumer prices, then real wages
The price at which output is sold in a perfectly competitive market is determined by
1. Explain- a. Tragedy of commons b. Free rider problem c. Diminishing marginal utility d. Diseconomies of scale e. Tax incidence f. Elasticity g. Gains from
economic problems are faced by all types of economies but they are dealt with differently in different types of economies.discuss
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