Study Materials

The Achievements of Development Planning in SAARC Countries

Leave a Comment / Development Economics, Study Materials /

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

Leave a Comment / Development Economics, Study Materials /

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

Leave a Comment / Development Economics, Study Materials /

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

4 Comments / Microeconomics, Study Materials /

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

2 Comments / Microeconomics, Study Materials /

Introduction In the analysis of consumer’s equilibrium, price and income are exogenous variables, and changes 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 income

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Comparative Statics of Consumer Behavior

Leave a Comment / Microeconomics, Study Materials /

Introduction The theory of consumer behavior and demand is grounded on the assumption that consumers try to allot limited money income among available goods and services to maximize satisfaction. The consumer purchases to maximize satisfaction subject to the constraint that these purchases do not exceed the consumer’s limited money income. Thus, for the theory of

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Consumer’s Equilibrium with Indifference Curve Approach

Leave a Comment / Microeconomics, Study Materials /

Introduction A consumer attains his/her equilibrium when he/she maximizes his/her total utility, given his/her income and the prices of the two commodities. We combine the indifference curves and the budget line on the same diagram to illustrate the consumer’s equilibrium graphically. The indifference curve in the utility analysis assumes that the consumer tries to maximize

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The Consumption Decision

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Learning Objective To explain the technique and solution of the consumption decision problem Once the consumer identifies his or her preference concerning several consumption bundles represented by the indifference map and which bundles can or cannot be afforded represented by the budget line, the decision problem is now related to the consumption decision. The straightforward

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