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Consumer Awareness is an act of making sure the buyer or consumer is aware of the information about products, goods, services, and consumers rights. Consumer awareness is important so that buyer can take the right decision and make the right choice.
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Preeti Dabral 1 month, 2 weeks ago
- All the three curves are U-shaped due to the law of variable proportion.
- Marginal Cost curve cut both Average total cost and Average variable cost from their lowest point.
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Preeti Dabral 1 month, 3 weeks ago
Economic activities refer to those activities which are undertaken to earn living. Every economy undertakes 3 main economic activities:
Consumption: It is an economic activity as it deals with the use of goods and services for the satisfaction of human wants.
Production: it is an economic activity as it is undertaken to produce goods and services for genration of income and satisfying human wants.
Distribution: it is an economic activity which studies how income generated is distributed among the factors of production.
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