Study Materials

Basic Terminologies of National Income

Leave a Comment / Macroeconomics, Study Materials /

The key terminologies/(basic terminologies of National Income) related to national income are briefly explained below. Domestic Territory of a Country United Nations states that economic or domestic territory is the geographical territory, governed by a government within which, individuals, goods, and capital distribute freely. It includes the following geographic or electoral boundaries: Normal Residents of […]

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Major Properties of the Cobb-Douglas Production Function

7 Comments / Microeconomics, Study Materials /

In this article, we explain the major properties of the Cobb-Douglas production function Introduction to Cobb Douglas Production Function The Cobb-Douglas production function is an empirical production function developed by Charles W. Cobb (American Mathematician) and Paul H. Douglas (American Economist) based on empirical studies of various manufacturing industries of the USA. This production function

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Allocation of Resources

1 Comment / Basic Economics, Study Materials /

Resource allocation plays a vital role in solving economic optimization problems. The productive resources like land, labor, capital, equipment, technology, etc. are inadequately available. Due to the inadequate availability of resources, the issue of resource allocation becomes serious.  Resource allocation can be defined as the distribution of resources (human, financial, and natural resources) for various

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Macroeconomics and Business Environment

Leave a Comment / Macroeconomics, Study Materials /

This article explains the relationship between macroeconomics and the business environment Macroeconomics and Business Environment Macroeconomics is the study of relationships and behavior of aggregate economic variables such as national income, the total level of employment, total consumption, investment and saving, aggregate demand, aggregate supply, general price level, trade cycle, etc. The values and changes in

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Static and Dynamic Analysis of Macroeconomics

1 Comment / Macroeconomics, Study Materials /

In this article, we have explained the static and dynamic analysis of macroeconomics. Introduction to Static and Dynamic Analysis of Macroeconomics To construct the economic model, there are two methods static and dynamic.  An economic analysis that limits its attention to the final equilibrium position is called ‘statics’ or ‘static’. A static model may be

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