Meaning of Economy What does the word ‘Economy’ mean? The word ‘economy’ refers to the mechanism through which labour, land, […]
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Category: Economics
Free Economics online learning lesson notes and videos for Secondary school and High school students. The lesson notes, videos and interactive slideshows are built on curriculum that is designed to meet national and international O’ Level standard for Senior High School or Senior Secondary school students (SS1, SS2, SS3 or SHS1, SH2, SH3) and Grade 9, Grade 10, Grade 11 and Grade 12 students.
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Rationing and Hoarding
HOARDING In economics, hoarding is the practice of obtaining and holding scarce resources, possibly so that they can be sold to customers […]
PRICE LEGISLATION Price legislation, also known as price control policy, refers to how the government or its agency fixes the […]
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CROSS ELASTICITY OF DEMAND
Cross elasticity of demand Cross elasticity of demand refers to the degree of responsiveness of demand for a commodity to […]
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Income Elasticity of demand
Income elasticity of demand refers to the degree of responsiveness of demand to changes in income of consumers. It measures […]
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Elasticity of supply
Elasticity of supply measures the degree of responsiveness of the quantity of a commodity offered for sale to a little […]
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Elasticity of Demand
Elasticity of demand can be defined as the degree of responsiveness of quantity demanded to little changes in the price […]
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Change in Quantity Demanded
A change in quantity demanded is a movement along a/single demand curve. The main determinant of a change in the […]
The theory of consumer behavior is primarily concerned with how the consumer or household tries to satisfy his or her […]
The measures of dispersion is also called measure of variation. The Range The range is the simplest and most straight […]