Different Types of goods in Economics
Introduction When economists have been studying the market economy, they saw that different goods react distinctively when there is a change in economic variables(price, income, …
Difference between Macroeconomics and Microeconomics
Introduction to Microeconomics and Macroeconomics The term microeconomics and macroeconomics were coined by Ragnar Frisch in 1930. He classified economics into two branches; Microeconomics and …
Elasticity of Demand
Introduction: The concept of elasticity of demand was first introduced by the classical economists A.A. Cournot and J.S. Mill. Later on, neo-classical economist Alfred Marshall …
Demand – Concept |Demand Function | Law of Demand
Table of Contents Concept of Demand Demand refers to the wiliness and ability of consumers to purchase goods and services from the market at various …