Studying of Economics often seems hard. It is only because of the vocabulary used in defining the economic concepts, here are a set of terms which are frequently used in economics along with definitions..
The flexible accelerator theory removes one of the major weaknesses of the simple acceleration principle that the capital stock is optimally adjusted without any time lag. In the flexible accelerator, there are lags in the adjustment process between the level of output and the level of capital stock.
The flexible accelerator theory removes one of the major weaknesses of the simple acceleration principle that the capital stock is optimally adjusted without any time lag. In the flexible accelerator, there are lags in the adjustment process between the level of output and the level of capital stock.
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale.
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
A fantastic PPT on the topic circular flow of income. It gives a complete understanding of the working of an economy in two sector, three sector and four sector models. It explains how production, income and expenditure are interrelated and how they move in a circular way.
The “Demand” for a commodity, at a given price, is the quantity of it which will be bought per unit of time at that price.
In economics, demand refers to the buying behavior of a household. When desire is backed by willingness and ability to pay for a good or service then it becomes Demand for the good or service.
Consumer Behaviour is the study of how individual customers, groups or organizations select, buy, use, and dispose ideas, goods, and services to satisfy their needs and wants. It refers to the actions of the consumers in the marketplace and the underlying motives for those actions. The study of Consumer Behaviour assumes that the consumers are actors in the marketplace.
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale.
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
Production Function: Meaning, production with one variable input, the law of variable proportion, the laws of returns to scale. Economies of Scale
A fantastic PPT on the topic circular flow of income. It gives a complete understanding of the working of an economy in two sector, three sector and four sector models. It explains how production, income and expenditure are interrelated and how they move in a circular way.
The “Demand” for a commodity, at a given price, is the quantity of it which will be bought per unit of time at that price.
In economics, demand refers to the buying behavior of a household. When desire is backed by willingness and ability to pay for a good or service then it becomes Demand for the good or service.
Consumer Behaviour is the study of how individual customers, groups or organizations select, buy, use, and dispose ideas, goods, and services to satisfy their needs and wants. It refers to the actions of the consumers in the marketplace and the underlying motives for those actions. The study of Consumer Behaviour assumes that the consumers are actors in the marketplace.
Participated in project to retool website content for the Thomas Scattergood Behavioral Health Foundation. Assisted in the creation of a design challenge for website. Ultimate goal was for dialogue and opportunities generated from design challenge to foster innovative and sustainable advancements by consumers, practitioners, and policymakers in behavioral health system. Utilized components of the design thinking methodology – human-centered design – for development of design challenge question. Components included collection and analysis of qualitative data derived from local community stakeholders who completed key informant interviews. Utilized interview data as inspiration for design challenge question. In addition, conducted literature review exploring historical evolution of United States behavioral health care system as well as the creation and implementation of modern social innovations through design thinking tools including human-centered design.
Promotion is the entire set of activities which communicate the product, Brand, Service so on to the user. The Idea is to make people aware, attract and induce to buy the product, in preference over others
There are plenty of office etiquette lessons every employee should be cognizant of. From spreading too much gossip to talking too loudly around other co-workers, there are a host of mistakes that do nothing more than slow down everyone's day. See which mistakes made the list and what you can do to keep them from happening at your company.
Each month, join us as we highlight and discuss hot topics ranging from the future of higher education to wearable technology, best productivity hacks and secrets to hiring top talent. Upload your SlideShares, and share your expertise with the world!
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Economics can be defined as a social science that is studied about the behavior of people.
“A social science that deals with how consumers, producers and societies choose alternatives, among uses of scarce resources in process of producing, exchanging and consuming goods and services.”
Industrial Management: Meaning, Definition, Objective, Need, Scope, Evolution and developments.
Productivity: Definition of productivity, Measurement of productivity, factors affecting the productivity, productivity improvement programs.
Macro Economics
For downloading this contact- bikashkumar.bk100@gmail.com
Prepared by Students of University of Rajshahi
1)Musthakim Ahmed
2)Yousuf chowdrary
3)SK Reazul Islam
4) Aysha Akter
5) Sanjida Afrin kuheli
6) Thamanna Akter
The Indian Partnership Act, 1932 defines partnership as
“the relation between persons who have agreed to share the profit of the business carried on by all or any one of them acting for all.”
In 1944, the United States and Britain held a conference (Bretton Woods) that established:
1. International Bank for Reconstruction and Development (World Bank) (IBRD)
2. International Monetary Fund (IMF)
Economics comes from the Greek word oikonomia which means household chores. Economics is considered a field of social science. Economics is relevant because it is part of everybody’s life. As a science, Economics is related to other sciences.
In economics, the cycle of poverty is the “Set of factors or events by which poverty, once started, is likely to continue unless there is outside intervention“. The poverty cycle can be called the “Development trap" when it is applied to countries.
The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934.
The FEMA (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA)
FEMA came into act on the 1st day of June,2000
49 sections in the Act.
This theory relies on the market behaviour of the consumer to know about his preferences with regard to the various combinations for the two reactions and responses of the consumer.
Economic welfare is the level of prosperity and standard of living of either an individual or a group of persons. In the field of economics, it specifically refers to utility gained through the achievement of material goods and services.
Isoquants, MRTS, Concept of Total Product, Average & Marginal Product, Short Run and Long Run analysis of production, The Law of Variable proportion, Returns to scale,
Production Cost – Concept of Cost, Classification of Short run cost – Long run cost,
Trade policy governs exports from and imports into a country.
Guided by the Export-Import (EXIM) Policy of the Government of India which is Regulated by the Foreign Trade (Development and Regulation) Act, 1992
It contains various policy with respect to imports and exports i.e. export promotional measures, policies and procedures related thereof. Policy was prepared and announced by the Central Government (Ministry of Commerce and Industry) for every 5 years of span.
The activity of seeking wealth is as old as Human
Civilization. Human beings either as individuals or as groups
or as large kingdoms and empires have always been engaged
in acquiring and increasing the material wealth.
However, a discipline study of the wealth producing
activities was commenced about 230 years back when Adam
Smith, the father of Economics, published “The Nature and
Causes of Wealth of Nations”. Economics, as a discipline,
constitute the most important subject to analyze activities
related to wealth creation and distribution. The dimensions of
the subject of Economics are truly vast and encompasses all
aspects of our lives.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
2. 1) Positive Economics- Examines matters of economics that
can be proven to be right or wrong by looking at facts.
2) Normative economics – Examines matters of economics
that are based upon opinion and so are hard to be proven to
be right or wrong.
3) Microeconomics- Is the study of the individual markets
and decisions by individual households and firms
4) Macroeconomics- is the study of the economy as a
whole.
5) Scarcity-Is a term used for a limited availability of
recourses
3. 6) Free market economy- when the productions are privately
held by individuals and firms
7) Factors of Production
-Land- Natural resources
-Labor- Human resources
-Capital- Man maid aids to production
-Entrepreneurship- Is the ability to combine the
above three factors
8) Production possibility Curve (PPC)- It shows the
maximum combination of goods and services which can be
produced given the existing levels of resources.
4. 9) Opportunity cost- is the sacrifice made In the next best
alternative.
Type of goods
a. Free good- involve no opportunity cost
b. Capital Good- Use consumption goods in the
future
c. Consumption Good- bought for final
consumption
10) Actual output- The production of goods and services in
the economy achieved in a certain period of time
11) Potential output- The possible production that would be
achieved if the available factors were employed.
5. 12) Actual Growth- When unemployed factors of production
are brought into use
13) Potential grown-When the quantity or quality of factors of
production within an economy increases
14) Economic Growth- Growth of real output in an economy
15) Economic development- Concept involving improvement
in standards of living, reduction in poverty, improved health,
and improved education
16) Sustainable development- Is the economic development
that meets its needs of the present without compromising the
ability of the future generation to meet their needs.
6. 17) Market- where consumers and producers come together
to establish a price where each are happy with for a good
or service.
18) Demand is the willingness and ability to purchase a
quantity of a good or service at a certain price over a given
time of period
Law of demand-states as the price of good or service
rises, the actual quantity demanded decrease.
Demand curve is a representation of the law of demand.
19) Supply- is the willingness and ability of a producer to
produce a quantity of a good or service at a certain price
over a certain period of time
7. 19) Law of supply – states that as a price of a good rises, the
quantity supplied will increase as well.
5) Supply Curve-is the curve of representation between the
price and quantity supplied
20) Equilibrium price- is the market clearing price; demand is
equal to supply
21) Maximum price- aka ‘ceiling price’ is the set price by the
government, in which sellers are not allowed to rise the price
above.
22) Minimum price- aka ‘floor price’ is set by the government,
in which the price is not allowed to be bellow a certain price. 9)
Buffer stock scheme- sets a maximum and minimum price in
the market to stabilize prices.
8. 23) Price elasticity of demand (PED) is the measure of the
responsiveness of the quantity demanded of a good or service
to a change in its price
A. -Elastic demand- means that the change in the price of
the good or service will cause a larger change in the
quantity demanded
B. -Inelastic demand-means that a change in the price of
the good or service will cause a small change in the
quantity demanded.
24) Cross elasticity of demand (XED) measure of the
responsiveness of the demand for a good or service to a
change in the price of a related good
A. Substitute goods- is goods that can be used instead of
another such as coke and Pepsi. Substitute good has
positive cross elasticity of demand
9. B. Complement goods- goods which are used together, such as
calculator and batteries. Complement goods have negative cross
elasticity of demand.
25) Income Elasticity of demand (YED) is a measure of the
responsiveness of demand for a good to a change in income.
A. Normal good- Has a positive income elasticity of demand. As
income rises, demand increases
B. Inferior goods- have a negative income elasticity of demand. As
income rises, demand decreases.
26) Price elasticity of supply (PES)- is a measure of the responsiveness
of the quantity supplied of a good or service to a change in its price
A. Indirect tax- Is an expenditure tax on a good or service
B. Incidence (burden)- tax refers to the amount of tax paid by the
producer or the consumer.
10. 27) Fixed cost- are costs of production that do not change with the
level of the output.
A. Variable costs- are costs of production that vary with the level
of output
B Total cots- are the total costs of producing a certain level of
output fixed costs plus the variable cots
C Average cots is the average total costs of production per unit.
D. Marginal costs- is the additional costs of producing an
additional unit of output
11. 28) Short run- period of time in which at least one factor of
production is fixed
A. Law of diminishing average return- as extra units of a
variable factor are applied to a fixed factor, the output per unit
of the variable factor will eventually diminish
B. Law of diminishing marginal returns- As extra units of
a variable factor are applied to a fixed factor, the output
from each additional unit of variable factor will
eventually diminish
12. 29) Fixed cost- are costs of production that do not change
with the level of the output.
A. Variable costs- are costs of production that vary with
the level of output
B Total cots- are the total costs of producing a certain
level of output fixed costs plus the variable cots
C Average cots is the average total costs of production
per unit.
D. Marginal costs- is the additional costs of producing an
additional unit of output
30) Short run- period of time in which at least one factor of
production is fixed
13. 31) Law of diminishing average return- as extra units of a
variable factor are applied to a fixed factor, the output per
unit of the variable factor will eventually diminish
32) Law of diminishing marginal returns- As extra units of a
variable factor are applied to a fixed factor, the output from
each additional unit of variable factor will eventually
diminish
33) The long run- is the period of time in which all factors
of production are variable
34) Economies of scale- are any fall in long run unit costs
that come about as a result of a firm increasing its scale of
production
14. 35) Diseconomies of scale- are any increase in long run unit
costs that come about as a result of a firm increasing its
scale of production.
36) Total revenue- Is the aggregated revenue gained by a
firm from the scale of a particular quantity of output.
37) Average revenue- is the total revenue received divided
by the number of units sold. Usually the price is equal to
average revenue.
38) Marginal revenue-is the extra revenue gained from
selling an additional unit of a good or service
15. 39) Normal profits- are the amount of revenue needed to
cover the total costs of production, including the opportunity
costs.
40) Abnormal profits- are any level of profit that is greater
than the required to ensure that a firm will continue to
supply its existing good or service.
41) Profit maximizing level of output– the level of output
where marginal revenue is equal to marginal costs.
42) Shut down price- is the price where the average revenue
is equal to average variable costs. Below this price, the firm or
company will shut down in the short run.
43) The break even price- is the price where average revenue
is equal to the average total cost.