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1. Price of the commodity: Higher the price larger the supply.Price is the incentive for the producers and sellers to supply more. 2. Price of other commodities: The supply of a commodity depends not only upon its price but also price of other commodities.For instance if the price of commercial crops like cotton rise, this […]
Supply Schedule: A supply schedule shows the different quantities of supply at different prices.This information is given in the supply schedule given below. Supply Curve: A supply curve represents the data given in the supply schedule. As the price of the commodity increases, the quantum supplied of the commodity also increases.Thus the supply curve has […]
Law of Supply is associated with production analysis. It explains the positive relationship between the price of a commodity and the supply of that commodity. For example, if the price of cloth increases, the supply of cloth will also increase. This is due to the fact that when price rises, it is profitable to increase […]
Princely States of India During the pre-independence phase, many princely states enjoyed the patronage of the British rule and were not eager to part with their privileges when the integration of States were proposed. Some of the rulers were looking forward to establishing finally their own independent State, and assert their autonomy, post-independence. A unification […]
Integration of Princely States A ‘princely state’ or a ‘native state’ is a political unit of a larger administrative province, which either is ruled directly by monarchic lineage or serves as a subsidiary coalition with a more powerful monarchic government. These smaller administrative pockets were based on the political, cultural, lingual, and geographical landscape. In […]
The Cobb-Douglas Production Function was developed by Charles W. Cobb and Paul H. Douglas, based on their empirical study of American manufacturing industry. It is a linear homogeneous production function which implies that the factors of production can be substituted for one another up to a certain extent only. The Cobb-Douglas production function can be […]
Producer equilibrium implies the situation where producer maximizes his output. It is also known as optimum combination of the factors of production. In short, the producer manufactures a given amount of output with ‘least cost combination of factors’, with his given budget. Optimum Combination of Factors implies either: *there is output maximisation for given inputs […]
We request our readers to please recall that earlier moment in our story when Kundavai and Vanathi climbed onto the chariot and rode towards Kudanthai, leaving their friends on the banks of the River Arisil. We shall now listen to the conversation of those maids who were left behind. “My dear Tarika, look at this […]
The iso-cost line is an important component in analysing producer’s behaviour. The iso-cost line illustrates all the possible combinations of two factors that can be used at given costs and for a given producer’s budget. Simply stated an iso-cost line represents different combinations of inputs which shows the same amount of cost. The iso-cost line […]
1. The iso-quant curve has negative slope: It slopes downwards from left to right indicating that the factors are substitutable. If more of one factor is used, less of the other factor is needed for producing the same level of output. In the diagram combination A refers to more of capital K5 and less of […]
An equal product curve represents all those combinations of two inputs which are capable of producing the same level of output. An iso-product curve can be drawn with the help of iso-quant schedule. Iso-quant Map: An iso-quant map has different iso-quant curves representing the different combinations of factors of production,yielding the different levels of output. […]
Production function may involve, at a time, the use of more than one variable input. This is presented with the help of iso-quant curves. The two words ‘Iso’ and ‘quant’ are derived from the Greek language, meaning ‘equal’ and ‘quantity’ respectively. In our presentation only two factors, labour and capital are used. In Economics, an […]
In those days, those who wished to reach Tanjore from Kudanthai, travelled along the banks of the rivers Arisil or Cauvery and reached the town of Thiru-vai-aru. From there, they would turn south to go towards Tanjore. Convenient ferrys or fords to cross the rivers Kudamuruti, Vettar, Vennar and Vadavar were available only along that […]
The Astrologer led Vandiya Devan into the house after the chariot carrying the princesses had disappeared from view. He seated himself on his best seat. He asked the youth who was looking around to sit down and examined him from head to toe. “Thambi, who are you? Where have you come?” Vandiya Devan laughed. “Why […]
Don’t we have to disclose how Vandiya Devan, whom we had left in a ferry-boat on the banks of the Kollidam, arrived at the doorsteps of the Astrologer of Kudanthai? The Saiva gentleman, who objected to having Azlvaradiyan in the boat, turned towards Vandiya Devan and said, “I let this fellow get in because of […]
The town known as Kumbakonam, was known as Kudanthai or Kudamooku during the times of our story. Besides the virtue of being a pilgrimage center, it was also famous because of the Astrologer of Kudanthai. A little distance to the south of Kudanthai, a majestic view of the interim capital of the Chozla’s, Pazlayarai, with […]
Complete knowledge of the UPSC (IAS) syllabus is a prerequisite for clarifying the exam. UPSC (IAS) exam syllabus for both prelims and mains exam is comprehensive as well as extensive. Hence the syllabus acts as a torchbearer for the IAS preparation as it sets the locus of the studies of every aspect of the IAS […]
National flower Lotus Lotus (Nelumbo Nucifera Gaertn) is the National Flower of India. It is a sacred flower and occupies a unique position in the art and mythology of ancient India and has been an auspicious symbol of Indian culture since time immemorial. India is rich in flora. Currently available data place India in the […]
தமிழ்த்தாய் வாழ்த்து என்பது இந்திய மாநில அரசுகளுள் தமிழை ஆட்சி மொழியாய் கொண்டுள்ளவற்றில் பாடப்பெறும் வாழ்த்துப் பாடலாகும். இது தமிழ் மொழியை வாழ்த்தி வணக்கம் செலுத்துவதாக அமையும். இப்பாடல் அரசு விழாக்கள், பள்ளிகளின் காலை இறைவணக்கக் கூட்டம் முதலான நிகழ்வுகளின் தொடக்கத்தில் பாடப்படுகிறது. இந்திய தேசிய கீதம்இறுதியில் பாடப்படும். தமிழக அரசால் ஏற்றுக்கொள்ளப்பட்ட தமிழ்த்தாய் வாழ்த்துப் பாடலை எழுதியவர் மனோன்மணியம் பெ.சுந்தரனார் என்பவராவார். இவர் எழுதிய புகழ்பெற்ற நாடக நூலான மனோன்மணியம் நூலில் உள்ள துதிப்பாடலின் ஒரு […]
River Ponni, born and raised in the Kudagu Hills, after her childhood was past, wished to meet the Ocean King, her chosen husband. She went swiftly, crossing hill and dale, rocky mountain and canyon. As she came closer and closer, the joyous anticipation of meeting her beloved Lord, the Ocean King, made her thrive and […]