Study Materials

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Williamson's Model of Managerial Discretion

Williamson’s Model of Managerial Discretion

Introduction The model of the managerial theory of the firm presented by Oliver E. Williamson is known as Williamson's Model ...
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Nominal GDP, Real GDP, and GDP Deflator

Nominal GDP, Real GDP, and GDP Deflator

Introduction If the gross domestic product is measured at prevailing market price then it is known as nominal gross domestic ...
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personal income, disposable income, per capita income, and personal income.

Personal Income, Disposable Income, Per Capita Income, and Personal Saving

Here in this article, we have tried to define personal income, disposable income, per capita income, and personal income. Personal ...
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National Income at Market Price and Factor Cost

Relationship between Concepts of National Income at Market Price and Factor Cost

After discussing several key concepts of national income at market price as well as at factor cost, in this article, ...
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Value Maximization Model

Value Maximization Model

Introduction Value maximization theory was developed as an alternative to the profit maximization theory due to weaknesses or limitations of ...
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Concepts of National Income at Factor COST

Concepts of National Income at Factor Cost

Introduction to Concepts of National Income at Factor Cost Factor cost is the total cost of production. It means factor ...
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Concepts of National Income at Market Price

Concepts of National Income at Market Price

Introduction The price given by the final purchasers of the consumer as well as capital goods is known as market ...
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Concepts of National Income

Concepts of National Income

This article tries to briefly introduce major concepts of national income.Concepts of National Income Meaning of Concepts of National Income ...
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Meaning and Features of National Income

Meaning and Features of National Income

Meaning of National Income In this article, we explain the meaning and features of national income. You will know what ...
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Basic Terminologies of National Income

Basic Terminologies of National Income

The key terminologies/(basic terminologies of National Income) related to national income are briefly explained below. Domestic Territory of a Country ...
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Circular Flow Model

Circular Flow Model

Introduction The economy is a system in which all the economic agents are interdependently working and doing their respective economic ...
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Major Properties of the Cobb-Douglas Production Function

Major Properties of the Cobb-Douglas Production Function

In this article, we explain the major properties of the Cobb-Douglas production function Introduction to Cobb Douglas Production Function The ...
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Concept of Stock and Flow Variables

Concept of Stock and Flow Variables

Meaning of Stock Variables A stock can be defined as an amount determined at a particular point in time. On ...
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Concept of Equilibrium and Disequilibrium

Concept of Equilibrium and Disequilibrium

Introduction The term equilibrium in the ordinary sense is a state of balance. It indicates the case in which the ...
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Allocation of Resources

Allocation of Resources

Resource allocation plays a vital role in solving economic optimization problems. The productive resources like land, labor, capital, equipment, technology, ...
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Concept of Opportunity Cost

Concept of Opportunity Cost

Concept and Meaning of Opportunicty Cost The problem of scarcity and choice gives birth to the concept of opportunity cost ...
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Scarcity and Choice

Scarcity and Choice

Scarcity and Choice: The Emergence of Economic Problems Scarcity The wants of human beings are limitless and resources to fulfill ...
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Macroeconomics and Business Environment

Macroeconomics and Business Environment

This article explains the relationship between macroeconomics and the business environment Macroeconomics and Business Environment Macroeconomics is the study of ...
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Static and Dynamic Analysis of Macroeconomics

Static and Dynamic Analysis of Macroeconomics

In this article, we have explained the static and dynamic analysis of macroeconomics. Introduction to Static and Dynamic Analysis of ...
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The Laws of Returns to Scale

The Laws of Returns to Scale

Introduction The laws of returns to scale explain the input-output relationship under the condition that both the inputs (labor and ...
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