The quantity of a good or service that a consumer is willing and able to purchase at different price levels available during a given time… Read More
Category Archives: Microeconomics
In layman’s language, a Market is a place where the exchange of goods takes place. In other words, a place where the purchase and sale… Read More
What is Oligopoly Market? The term oligopoly is derived from ‘oligi’, meaning few and ‘polein’, meaning to sell. A market situation where the number of… Read More
What is Monopoly Market? Monopoly is a completely opposite form of market and is derived from two Greek words, Monos (meaning single) and Polus (Meaning… Read More
In layman’s language, a Market is a place where the exchange of goods takes place. In other words, a place where the purchase and sale… Read More
What is Perfect Competition? A market situation where a large number of buyers and sellers deal in a homogeneous product at a fixed price set… Read More
Consumer Behaviour is the study of individual customers, organizations, or groups’ behaviour while selecting, purchasing, using, and disposing of the goods, ideas, and services so… Read More
In economics, demand is the quantity of a good or service that a consumer is willing and able to purchase at different price levels available… Read More
One cannot put a numerical value on the level of satisfaction gained from the consumption of goods. However, they can tell their preference between two… Read More
Microeconomics is a branch of economics studying the behavior of an individual economic unit. Adam Smith is known as the father of economics and microeconomics.… Read More
What is Price Elasticity of Demand? The proportionate change in the quantity demanded of a commodity due to a proportionate change in the price of… Read More
Microeconomics is a branch of economics studying the behaviour of an individual economic unit. Adam Smith is known as the father of economics and microeconomics.… Read More
Microeconomics is a branch of economics studying the behaviour of an individual economic unit. Adam Smith is known as the father of economics and microeconomics.… Read More
