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If we assume that innumerable production possibilities exist between any two-production possibilities schedule, we get the production possibility curve P1 to p6. This shows the locus of points of the different possibilities of production of two commodities, which a firm or an economy can produce, with the help of given resources and the techniques of […]
The problem of choice between relatively scarce commodities due to limited productive resources with the society can be illustrated with the help of a geometric device, is known as production possibility curve. Production Possibility curve shows the menu of choice along which a society can choose to substitute one good for another, assuming a givenstate […]
Longest Written Constitution: The Indian Constitution is considered to be the longest written constitution in the world. It contains different provisions for states and centre and their inter-relationship. The framers of the Constitution have borrowed provisions from several sources and several other Constitutions of the world. The Indian Constitution contains the detailed list of individual […]
If resources are abundant and wants are so few, then there would be no economic problem. But this situation can never exist. Resources are always scarce and our wants are numerous.Hence in everysociety certain choices have to be made. What and how much to produce? Every society must decide on what goods it will produce […]
Economics is a rapidly growing subject and its horizon has been expanding. The basic thrust of the subject is that there should be efficient allocation of the available scarce resources to obtain maximum welfare to the people on a sustainable basis. Given below are some of the major branches of the subject, where such efficient […]
The Primary Sources of the Indian Constitution are as follows: The framers of the Constitution adopted the features of the Indian Constitution from several sources. The primary sources that inspired the framers of the Indian Constitution are: •Volume I (9th December to 23rd December 1946) •Volume II (20th January to 25th January 1947) • Volume […]
Meaning, functions and significance of the construction Nationalism during the colonial period strived not only for political independence but also for territorial integration, constitutionalism and democratization. India is a culturally diverse country, yet united as a political state. Indians are dependent upon each other in many ways, and they cooperate in many ways. There is […]
Hypertension is persistent high blood pressure in which sustained systolic blood pressure above 140mmHg and diastolic blood pressure above 90mmHg may damage the arteries and the Heart. BP varies naturally with activity rising during exercise or stress and falling during rest. Normal BP is 120/80 mmHg. Hypertension is a heterogenous disorder result either from specific […]
Economics has been divided into some branches. 1.Consumption: Human wants coming under consumption is the starting point of economic activity.In this section the characteristics of human wants based on the behaviour of the consumer, the diminishing marginal Utility and consumer’s surplus are dealt with. 2.Production: Production is the process of transformation of inputs into output. […]
A Law expresses a causal relation between two or more than two phenomena.Marshall states that the Economic laws are statement of tendencies, and those social laws, which relate to those branches of conduct in which the strength of the motives chiefly concerned can be measured by money price.In natural sciences, a definite result is expected […]
Methods of Economics:Deduction and Induction Like any other science, Economics also has its laws or generalisations.These laws govern the activities in the various divisions of Economics such as Consumption, Production, Exchange and Distribution. The logical process of arriving at a law or generalization in a science is called its method. Economics uses two methods:deduction and […]
PATHOGENESIS OF ASTHMA * Based on the stimuli initiating Bronchial asthma, two broad etiologic types are traditionally described: * Extrinsic(allergic,atropic) Asthma * Intrinsic(idiosyncratic, non-atropic) Asthma * A third type is a mixed pattern in which the features do not fit clearly into either of the two main types. EXTRINSIC (ATROPIC, ALLERGIC) ASTHMA * This is […]
Asthma is a condition in which your airways narrow and swell and may produce extra mucus. This can make breathing difficult and trigger coughing, a whistling sound(wheezing) when you breathe out and shortness of breathe SYMPTOMS: *Cough *Wheezing Triggers of asthma *Tobacco smoke *Dust mites * Cockroach allergen * Pets Mold *Smoke from burning woods […]
Price: Price is the value of the good expressed in terms of money. Price of a good is fixed by the forces of demand for and supply of the good. Price determines what goods are to be produced and in what quantities.It also decides how the goods are to be produced. Market: Generally, market means […]
a. Meaning: ‘Utility’ means ‘usefulness’.In Economics, utility is the want-satisfying power of a commodity or a service. It is in the goods and services for an individual consumer at a particular time and at a particular place. b. Characteristics of Utility: 1. Utility is psychological. It depends on the consumer’s mental attitude.For example, a vegetarian […]
Like other sciences, Economics also has concepts to explain its theories. A complete and clear grasp of their meaning is necessary when the theories associated with them are studied. Only a preliminary acquaintance is now attempted here. Goods and Service: Both goods and services satisfy human wants. In Economics, the term ‘goods’ implies the term […]
GIT There are three most important parts of GIT: 1) Stomach 2) Small intestine 3) Large intestine 1) STOMACH: Following disorders are related to STOMACH: a) GASTRITIS: Causes of Gastritis * Inflammation of gastric mucosa. * Swelling of inner most layer. * It is because of some type bacterial infection b) ACLORYDRIA: * It is […]
The scope of the subject of Economics refers to on the subject-matter of Economics. It throws light on whether it is an art or a science and if science, whether it is a positive science or a normative science. Economic: It’s subject matter Economics focuses on the behaviour and interactions among economic agents, individuals and […]
If you’re fresh to investing in the stock marketplaces, you’ve probably seen a lot about world stock exchanges. There are many things you should know about the stock exchanges before you dive in. Primary, world share exchanges are a way of trading securities you happen to be interested in. An example is the NASDAQ. The […]
Four definitions, each referring to particular stage of the growth of the subject of Economics, are presented here. They are: 01. Smith’s Wealth Definition,representing the Classical era; 02. Marshall’s Welfare Definition,representing the Neo-Classical era; 03. Robbins’ Scarcity Definition,representing the New Age; and, 04. Samuelson’s Growth Definition, representing the Modern Age. Wealth Definition: Adam Smith Adam […]