A change in quantity demanded is a movement along a/single demand curve. The main determinant of a change in the […]
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The theory of consumer behavior is primarily concerned with how the consumer or household tries to satisfy his or her […]
LOCALISATION OF INDUSTRIES Localisation of industries refers to the concentration of many firms of an industry in a particular area. […]
LOCATION OF INDUSTRY Location of industry refers to the siting of an industry in a particular place. Factors Influencing Industrial […]
Meaning Industry An industry consists of a group of firms producing broadly similar commodities. Examples are the shoe industry, the […]
EQUILIBRIUM IN THE SHORT-RUN The short run is the period in which a firm can vary its output by changing […]
SUPPLY OF LABOUR Supply of labour may be defined as the total number of people of working age offered for […]
ECONOMIC SYSTEMS An economic system may be defined as a medium or an organized way by which the means of […]
TOTAL REVENUE (TR): This refers to the total income which a firm derives from the sale of its products. Total […]