CA Foundation Business Economics Study Material Chapter 2 Theory of Demand and Supply - Supply MEANING Supply of a commodity refers to the quantity of commodity offered for sale at a particular price during a given period of time. Thus, the supply of a commodity may be defined as the amount of commodity which the sellers or producers are able and willing to offer for sale … [Read more...] about CA Foundation Business Economics Study Material – Supply
Business Economics
CA Foundation Business Economics Study Material – Law of Demand
CA Foundation Business Economics Study Material Chapter 2 Theory of Demand and Supply - Law of Demand The Law of Demand The Law of Demand expresses the nature of functional relationship between the price of a commodity and its quantity demanded. It simply states that demand varies inversely to the changes in price i.e. demand for a commodity expands when price falls … [Read more...] about CA Foundation Business Economics Study Material – Law of Demand
CA Foundation Business Economics Study Material – Introduction to Demand
CA Foundation Business Economics Study Material Chapter 2 Theory of Demand and Supply - Introduction to Demand Meaning of Demand In ordinary speech, the term demand is many times confused with 'desire' or ‘want’. Desire is only a wish to have any thing. In economics demand means more than mere desire. Demand in economics means an effective desire for a commodity … [Read more...] about CA Foundation Business Economics Study Material – Introduction to Demand
CA Foundation Business Economics Study Material – Nature and Scope of Business Economics
CA Foundation Business Economics Study Material - Nature and Scope of Business Economics Nature of Business Economics The subject matter of Economics is broadly divided into two major parts namely:— Micro-Economics, and Macro-Economics Before dealing with nature of Business Economics, it is necessary to understand the difference between the two. 1. Micro-Economics - … [Read more...] about CA Foundation Business Economics Study Material – Nature and Scope of Business Economics
CA Foundation Business Economics Study Material – Introduction
CA Foundation Business Economics Study Material Chapter 1 Nature and Scope of Business Economics - Introduction WHAT IS ECONOMICS ABOUT? The word ‘Economics’ is derived from the Greek word ‘Oikonomia’ which means household management. Till 19th century, economics was known as ‘Political Economy’. In 1776, Adam Smith published his book entitled “An Inquiry into the Nature … [Read more...] about CA Foundation Business Economics Study Material – Introduction