Study Materials

Here you find all the study materials uploaded in Enotes World.
Law of Variable Proportion

Law of Variable Proportion

Introduction The law of variable proportion is a widely observed law of production that takes place in the short run ...
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Factors Affecting Price Elasticity of Demand

Factors Affecting Price Elasticity of Demand

In this article, we have explained different factors affecting the price elasticity of demand The value of price elasticity of ...
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The Law of Substitution

Introduction German economist H.H. Gossen developed his second law as the law of substitution or the law of equi-marginal utility/the ...
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Law of Diminishing Marginal Utility

Law of Diminishing Marginal Utility

In this article, we tried to explain the law of diminishing marginal utility Introduction The Law of Diminishing Marginal Utility ...
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Total Utility, Marginal Utility, and their Relationship

Total Utility, Marginal Utility, and their Relationship

Concept of Cardinal Utility: Total Utility and Marginal Utility In this article 'total Utility, marginal Utility, and their relationship', we ...
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Meaning and Types of the Production Function

Meaning and Types of the Production Function

Meaning of the Production Function The technical process that links inputs to the output of a good is known as ...
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Concept of Production, Total, Average and Marginal Product

Production, Total Product(TP), Average Product(AP), and Marginal Product(MP)

Meaning of Production In economics, production means the creation of utility for sale. The act of creating utility is done ...
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Capital Formation Process

Capital Formation Process

Meaning of Capital Formation All the man-made factors used in further production are known as capital. Capital formation, therefore, refers ...
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Characteristics of Developing Countries

Characteristics of Developing Countries

The countries in which the process of development has started but not completed and having a developing phase of different ...
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Differences between Closed Economy and Open Economy

Differences between Closed Economy and Open Economy

An economy that does not involve in overseas trade is known as the closed economy and an economy having participation ...
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Introduction to open economy

Introduction to Open Economy

Meaning/Introduction to Open Economy The economy in which there is the provision of international trade or foreign trade is known ...
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Closed Economy

Introduction to Closed Economy

Based on the participation in international trade, economies can be divided into two types as the closed economy and the ...
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Macroeconomic Variables

Macroeconomic Variables

The performance and behavior of the economy can be shown and analyzed by different economic variables and these are known ...
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Use or Importance of Macroeconomics

Use or Importance of Macroeconomics

Macroeconomics is the study of aggregates like national income, national product, total consumption, total saving, total investment, etc. Study of ...
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Scope of Macroeconomics

Scope of Macroeconomics

The word ‘scope’ refers to the range or area covered by anything or any subject or by any topic. Thus, ...
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Meaning and Features of Macroeconomics

Meaning and Features of Macroeconomics

Macroeconomics is the part of economics that studies about the economy. The unit to deal in macroeconomics is the entire ...
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Cost of Economic Growth

Cost of Economic Growth

Every economy needs to invest its scarce resources in the production of capital goods and consumer goods. Both sorts of ...
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Measurement of Economic Growth

Measurement of Economic Growth

Economic growth can be defined as the increase in the real national product or output over time. Economic growth during ...
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Meaning and Definition of Demand

Meaning and Definition of Demand

Meaning and Definition of Demand Demand for goods and services implies the number of goods and services that buyers are ...
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Difference between Microeconomics and Macroeconomics

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 ...
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