ECONOMICS PROJECT SYJC 2013-2014 Note :- a] Approximate number of sides to be written indicated on the right hand side. b] Total sides to be written 12 to 15 sides I] Order of the contents 1] Title page-…
ECONOMICS PROJECT SYJC 2013-2014 Note :- a] Approximate number of sides to be written indicated on the right hand side. b] Total sides to be written 12 to 15 sides I] Order of the contents 1] Title page-…
Introduction Measures of national income and output are used in economics to estimate the value of goods and services produced in the economy. They use a system of national accounts or national accounting developed by Prof Simon Smith Kuznets…
Form utility Q] Define and explain form utility. Form utility is the want satisfying capacity and therefore the value given to a product due to a change in its form. Form utility is the most obvious utility added in…
THE PARADOX OF VALUE. Before heading for analyzing a paradoxical relation between diamond and water, let’s know how anything loses its value with its availability in abundance. Anything available excessively loses its marginal value in the world. This has been…
To answer your question about why it is wrong to say that micro economics studies the tree and macro economics studies the forest – The difference between microeconomics and macroeconomics can be explained by using the example of a tree…
Types of Government Budgets A Balanced Budget A Balanced Budget is a situation in which estimated revenue of the government during the year is equal to its anticipated expenditure. Government’s estimated revenue = Governments proposed expenditure. For individuals and families…
Psychological law of consumption The main purpose of every economic activity, be it production or exchange, is consumption. It is consumption that motivates man to produce. All the production activity would come to a standstill, if there is no consumption.…
Variable capital is “capital assets which are used only once in the process of production, to produce other goods.” It is also known as working capital/circulating capital. Eg raw materials, electricity, fuel, coal etc. The cost of variable capital varies directly…
‘Bank rate’ is also referred to as ‘discount rate’, “is the rate of interest which central bank charges on loans and advances that it extends to commercial banks and other financial intermediaries” The central bank gives loans to commercial banks…