Perfect Competition – Meaning, Definitions and Characteristics Topics Covered i. Perfect competition Meaning ii. Definition of Perfect Competition iii. Features of Perfect Competition/Characteristics of Perfect Competition About Perfect Competition Under perfect competition a large number of firms compete against each other. Therefore, the degree of competition number perfect competition is close to one. […]
Perfect Competition Under perfect competition a large number of firms compete against each other. Therefore, the degree of competition number perfect competition is close to one. Of the different kinds of market structures, the maximum competition happens in perfect competition. Monopoly has the least competition . The major characteristics of a perfect competition market are […]
English Grammar – A Complete Guide English is probably the most widely used language in the world. English, in many countries including India is used as the official language. Business transactions, job interviews, dissemination of scientific and technical data, the proceedings of law courts, Parliament and the administrative machinery as a whole, as well as […]
English Grammar English is probably the most widely used language in the world. English, in many countries including India is used as the official language. Business transactions, job interviews, dissemination of scientific and technical data, the proceedings of law courts, Parliament and the administrative machinery as a whole, as well as the communication between State […]
Nouns Nouns are the names of people, places, things, ideas, actions or qualities. Example – John, Nancy, Paris, Printer, Roof etc. Types of Nouns : Nouns are classified into following types : Proper Nouns Common Nouns Collective Nouns Abstract Nouns Concrete Nouns Countable Nouns Uncountable Nouns Proper Nouns The name of a particular […]
Economies of scale Economies of scale mean the cost advantage of large scale production. They occur mostly in the long run when increasingly larger plants yield lower cost of production. Economies of scale arise when a business firm expands its scale of production, the unit cost of production decreases. If the unit cost increases while […]
Demand Elasticity – Meaning, Definitions and Types Meaning of Demand Elasticity Elasticity in general, means the sensitivity or responsiveness of one variable to any change in another related variable. Demand Elasticity is a concept of judging the responsiveness of demand. J.S. Mill and Cournot were the early economists who referred to Elasticity of Demand in […]
Demand Elasticity Elasticity in general, means the sensitivity or responsiveness of one variable to any change in another related variable. Demand Elasticity is a concept of judging the responsiveness of demand. J.S. Mill and Cournot were the early economists who referred to Elasticity of Demand in Economics. But this concept was actually developed by Dr. Marshall […]
Types of Demand There are large number of goods and services available in every economy. Their classification is important in order to carry out a demand analysis for managerial decisions. Following categories have made on the basis of the nature of commodity demanded (consumer goods and capital goods), time unit for which it is demanded […]
You cannot copy content of this page. The content on this website is NOT for redistribution
Subscribe to Simplynotes Channel on YouTube
Subscribe & Support Us !
