Theory Of Demand, Consumer Behaviour, Supply And Price

No matter the structure, all market experience the pressure of the forces of utility, Price demand and supply. These are the market forces which exert their influences on difference markets (Imperfect or perfect markets). These forces are treated below: 1. Utility Utility is the amount of satisfaction which is derived from the consumption of goods … Read more

Production And Theory Of Costs (Economics)

Table Of Contents Meaning Of Production Types Of Production Factors Of Production Production Systems Devices That Raise Production Scale Of Production Production Concepts Production Costs Concepts Revenue Concepts Production is the creation of goods and services that satisfy human wants. Production has been classified into three types. They are the following: 1. Primary Production This … Read more