Economists like Hicks, Allen, Samuelson’s, Edgeworth etc. have criticized the utility analysis on the following grounds: •Utility is subjective.•Indivisible Goods.•Goods are not independent.•Marginal Utility of Money is not Constant.•Cardinal Measurement is not Possible.•Consumer is not so calculative.•Income Effect of Price change Ignored INTRODUCTION OF INDIFFERENCE CURVE IC analysis is a modern method to analyze consumer’s …
3. a. Suppose the monthly income of an individual increases from Rs 20,000 to Rs 25,000 which increases his demand for clothes from 40 units to 60 units. Calculate the income elasticity of demand. (5 Marks) 3. b. Assume that a business firm sells a product at the price of Rs 500. The firm has …
An introduction economics for commerce and management students from all universities.
NMIMS Global Access School for Continuing Education (NGA-SCE) Course: Business Economics Internal Assignment Applicable for December 2022 Examination 1. Demand forecasting in an organisations plays a vital role in business organisations. It provides reasonable data for the organization’s capital investment and expansion decision. Keeping the above statement in consideration. Discuss the various steps involved …
Current Affairs | Macroeconomics | Commerce & Management Introduction : On 24th February, 2022, Russia and Ukraine went into a conflict, which has impacted the Indian Economy, bringing about results and effects on various regions and perspectives. In a United Nations (UN) meeting, India went without casting a ballot. India has kept an impartial position in the …
Impact of Russia and Ukraine war on Indian Economy – Macroeconomic Analysis Read More »
Macroeconomics Monetary policy refers to the use of a set of instruments by the central bank to influence the level of money supply in an economy. There are two types of tools or instruments of monetary policy, viz., (i) quantitative, and (ii) qualitative. Quantitative instruments are also known as general instruments. They relate to the …
