Q1. As economists use the term, capital means
a. such things as machinery and equipment
b. such things as money and credit
c. the profits that come from hiring and using labor and natural resources
d. all of these
Q2. In Economics, Utility refers to
How do changes in
supply or demand affect
equilibrium prices and
An increase in supply or demand causes
an increase in quantity exchanged.
A decrease in supply or demand causes
a decrease in quantity
Q1. Concern with the level of employment in the economy is a macroeconomic issue.
Q2. The stock of labor talents and skills is known as
a. a public good
b. the functional distribution
c. human capital
Q3. A bulldozer used by
Law of diminishing returns
Family of cost curves
Before this we have already studied
How producers allocate resources(Production
How individuals allocate resources(Consumer
A measure of responsiveness of quantity
demanded or quantity supplied to one
of its determinants.
Price elasticity of demand is how much demand
will respond for 1% change in price.
Essay: Socio-economic Problems Of PakistaN
People are the essential pillar of any country. It is the fundamental duty and responsibility of the
country to fulfil the basic needs of its people. Basic needs of man comprises of shelter, food and
Market is a place or platform where sellers
and buyers meet to trade goods and
A relationship between price and quantity
demanded in a given time period,
It is represented in terms of table or graph
3.CENTRAL ISSUES AND PROBLEMS IN PAKISTAN EDUCATION SYSTEM AND THEIR NEEDED
The existing education delivery system is not meeting the needs and aspirations of the society as
such particularly, it is a challenge to the provinces and districts for
we have already studies how firm can
check if it have minimum cost or not.
in this chapter we will see how the control
over sale price (revenue side) of the firm can
effect its profit.