CA Foundation Business Economics Study Material Chapter 3 Theory of Production and Cost - Production Optimisation Production Optimisation Isoquants: An iso-product curve or isoquant is a curve, which represents the various combinations of two variable inputs that give the same level of output. As all combinations on the iso-product curve give the same level of output, the … [Read more...] about CA Foundation Business Economics Study Material – Production Optimisation
Business Economics
CA Foundation Business Economics Study Material – Law of Returns to Scale
CA Foundation Business Economics Study Material Chapter 3 Theory of Production and Cost - Law of Returns to Scale Law of Returns to Scale The Law of Returns to Scale examines the production function i.e. the input - output relation in long run where increase in output can be achieved by varying the units of ALL FACTORS IN THE SAME PROPORTION. Thus, in long run all … [Read more...] about CA Foundation Business Economics Study Material – Law of Returns to Scale
CA Foundation Business Economics Study Material – Law of Variable Proportions
CA Foundation Business Economics Study Material Chapter 3 Theory of Production and Cost - Law of Variable Proportions Law of Variable Proportions The Law of Variable Proportions examines the production function i.e. the input-output relation in short run where one factor is variable and other factors of production are fixed. In other words, it examines production … [Read more...] about CA Foundation Business Economics Study Material – Law of Variable Proportions
CA Foundation Business Economics Study Material – Meaning of Production
CA Foundation Business Economics Study Material Chapter 3 Theory of Production and Cost - Meaning of Production Meaning of Production Production is one of the important economic activity that takes place in any economy apart from consumption and investments. An individual firm is the micro-economic unit which undertake the production of goods and services. A firm’s … [Read more...] about CA Foundation Business Economics Study Material – Meaning of Production
CA Foundation Business Economics Study Material – Business Cycle
CA Foundation Business Economics Study Material Chapter 5 Business Cycle All countries have gone through fluctuations in economic activities i.e. ups and downs in its economic activities. In other words, every country passes through a pattern where there are period of economic growth, followed by periods of slowing growth and even failing growth. There are periods of … [Read more...] about CA Foundation Business Economics Study Material – Business Cycle