Study Materials

Difference between Microeconomics and Macroeconomics

The subject matter of economics is broadly divided into two branches, namely microeconomics and macroeconomics. Microeconomics and macroeconomics have become household worlds today. Microeconomic and macroeconomic analysis is now considered two important approaches to economic analysis. Microeconomics The prefix ‘micro’ is originated from the Greek word ‘mikros’, meaning small. It is the study of the …

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The Achievements of Development Planning in SAARC Countries

Learning ObjectiveTo discuss the achievements of development planning in SAARC Countries SAARC Countries have experienced several changes and improvements because of economic planning in the region. The region has completed more than five decades of economic planning. The South Asian economies have come a long way since the starting of planning in the 1950s. Some …

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Constraints or Challenges of Development Planning in SAARC Countries

Introduction South Asian countries are competitive but, in many respects, they are complementary to each other also. All the member countries of SAARC are more or less homogeneous in the sense they have been facing similar nature of challenges in the development of the nation. Some reports have mentioned that the SAARC is failed due …

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Plan Priorities in SAARC Countries

Concept and Introduction of SAARC After 1945, the trend of the establishment of various regional cooperation organizations like the European Economic Community, the North Atlantic Treaty Organization (NATO), the American Free Trade Organization, the league, and the African Unity Organization, etc. was started. Following the context, the South Asian Association for Regional Cooperation (SAARC) was …

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Concept of Duality in Consumer Theory

Meaning of Duality The term duality is habitually used to denote a dissimilarity between two correlated concepts, such as duel characteristics of developing economies. It means duality is related to looking for a particular thing in different two alternative ways. Thus, in consumer theory, duality is the alternative way of looking at the consumer’s utility …

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Change in Prices and Derivation of Demand Curve

Introduction In the analysis of consumer’s equilibrium, price and income are an exogenous variable, and change in the values of these variables have a direct effect on the consumer’s equilibrium or the consumer’s optimal choice of the goods. The effect of change in money income on the consumer’s optimal purchase decision is traced by the …

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