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Posted by Kartik Singh Rawat 7 years ago
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Yogita Ingle 7 years ago
The law of variable proportion states that as we increase the quantity of only one input, keeping other inputs fixed, the total product increases at an increasing rate (convex shape) in the beginning, then increases at diminishing rate (concave shape) and after a level of output ultimately falls.
Posted by Sunny Rajput 7 years ago
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Aditi Gurjar 7 years ago
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Yogita Ingle 7 years ago
Inertia of a body is the measure of the body's resistance towards its own acceleration. Thus mass becomes a qualitative measureof its inertia.
Mass is scalar, thus linear inertia is scalar.
Rotational Inertia or Moment of Inertia is given by I = MR2 , It is a tensor that means it is neither a scalar nor is a vector.
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Yogita Ingle 7 years ago
Proposal for making a law on any subject is called a Bill. Bills are of two types — Ordinary Bill and Money Bill. Ordinary Bill is that which is concerned with making of laws on matters other than money matters. The Ordinary Bills are of two types — Government Bill and Private Member’s Bill. A Government Bill is that which is introduced by a minister. A Bill which is introduced by a Member of Parliament other than a minister is a Private Member’s Bill.
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Yogita Ingle 7 years ago
Explicit cost refers to the expenditures incurred or payments made by a firm to various factors of production and also non-factors of production. These costs are recorded in the books of account as they deal with the expenditure incurred on the tangible items. These costs are also called as ‘out of the pocket expenses’. For example, payments in the form of wages for labour, rent for building.
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Meghna Thapar 5 years, 4 months ago
The citric acid cycle, shown in —also known as the tricarboxylic acid cycle (TCA cycle) or the Krebs cycle—is a series of chemical reactions used by all aerobic organisms to generate energy through the oxidation of acetate—derived from carbohydrates, fats, and proteins—into carbon dioxide. The cycle provides precursors including certain amino acids as well as the reducing agent NADH that is used in numerous biochemical reactions. Its central importance to many biochemical pathways suggests that it was one of the earliest established components of cellular metabolism; it may have originated abiogenically.
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Gaurav Seth 7 years ago
Expansion of supply, like that of demand, refers to a movement along the supply curve in response to changes in price. A rise in price, other things remaining same, leads to a rise in supply. Refer to Figure 2.22(a).
Increase in supply refers to a downward to right shift in the supply curve resulting from a favourable change in one of the shift factors. The shift factors, here, are all the determinants of supply except the price of the product offered by the market.
For instance, if an improvement in technology or an advanced technology is adopted, more will be produced and supplied at the same price. In like manner, if input prices fall or subsidy is granted, production cost declines and more can be produced and supplied at the same price. An increase in supply generally leads to a downward parallel shift in the supply curve. Refer to Fig. 2.22(b).
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Contraction of supply:
Contraction of supply is just opposite of its expansion. A fall in price offered leads to a fall in supply. It results in a downward movement along the supply curve. Refer to figure 2.23(a). Likewise, decrease in supply is just opposite of an increase in it. An unfavorable change in one of the shift factors leads to an upward to left shift in the supply curve. As mentioned earlier, the shift factors refer to all the other determinants of supply except the price offered by the market for the product. For instance, a rise in input prices, or a levy of excise duty raises the production cost and hence lowers the supply despite no change in price offered for the product by the market. Refer to Figure 2.23(b).
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Posted by Chetan Raghuwanshi 7 years ago
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Gaurav Seth 7 years ago
Land is not depreciated because land is assumed to have an unlimited useful life. Other long-lived assets such asland improvements, buildings, furnishings, equipment, etc. have limited useful lives. Therefore, the costs of those assets must be allocated to those limited accounting periods.
Harshit Goyal 7 years ago
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Sivan Karthick 7 years ago
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