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  • 1 answers

Gaurav Seth 21 hours ago

 Indifference Curve Slopes Downwards : 

This property implies that to increase the consumption of X good, the consumer has to reduce the consumption of Y good, so as to remain at the same level of satisfaction as shown in the given diagram:

To increase the quantity of X good from OX to

OX1, the consumer has to reduce the quantity of good Y from OY to OY1.

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Deeya Malhotra 1 day, 18 hours ago

P(x) is the price of commodity x as in economics
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Sahil Kumar 1 day, 1 hour ago

Falls due to law if demand

Deeya Malhotra 1 day, 18 hours ago

Fall due to the law of demand
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Yogita Ingle 2 days, 3 hours ago

  • It is a graphical representation of all the possible combinations of two goods that can be produced by optimum (fuller) utilization of available resources and given technology.
  • It gives us the maximum limit of goods & services that could be produced so, it is also known as Production Possibility Boundary or Production Possibility Frontier (PPF).
  • 2 answers

Harman Sran 2 days, 2 hours ago

Positive economic related with past, present, future. It may be true or false . And in normative economic related with opinion economist economic problems. It involve only opinions does not true or false. It involves value judgements.

Deeya Malhotra 2 days, 7 hours ago

Positive Economics is the real description of the economics it shows what and how the economic problems are actually solved it is not based upon individuals opinion. For example India is facing poverty Normative economics shows that how the economic problem should be solved it did not give a real description it is based on individual opinions for example India should take some steps to poverty
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Khushi Delio 2 days, 19 hours ago

When MP>AP ap rises When MP=AP AP minimum When MP

Gaurav Seth 2 days, 21 hours ago

The marginal product (MP) and average product (AP) initially increase and then decrease due to the operation of the Law of Diminishing Marginal Returns. As long as MP is higher than AP, AP increases. At the highest point of AP, i.e. when AP is at its maximum, MP is equal to AP. When MP becomes lesser than AP, AP also starts to fall. Thereafter, both AP and MP fall, but MP becomes negative and AP remains positive. Also, MP falls at a faster rate as compared to AP. 

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Gaurav Seth 3 days, 22 hours ago

When percentage change in the quantity demanded is equal to percentage change in price, then demand for such a commodity is said to be unitary elastic. In this case, Ed = 1 and the demand curve is a rectangular hyperbola. Rectangular hyperbola is a curve under which the total area at all points will be the same.

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Sia 🤖 5 days, 3 hours ago

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. Resources are not only scarce but also have alternative uses i.e., land can be used for producing wheat or for constructing warehouses or factories. Hence, it leads to a problem of choice. However, if resources were not scarce one could have anything, anytime and then there would have been no problem of choice.

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I know only one remaining you see in side book
Multiple choice of question in questionnaire
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Silla Gayatri 5 days, 18 hours ago

Microeconomics deals with the economic issues of an individual not the country as a whole.

Ashish Dhiman 6 days, 6 hours ago

Microeconomics deals with economic issues related to small economic units the word has been write from the greek word is 'Micro's. an individual firm, an individual household, or an individual customer is known as microeconomics.
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Aarav Mishra 4 days, 18 hours ago

MISTAKE ERROR 1) The scale of measurement happens to be different for different enumerator ,and 2) different enumerators may be allowing different degree of approximation in their measure ment ,even while using identical scales.
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Aarav Mishra 6 days, 21 hours ago

Yes , because it show' s the ratios production equally

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