We define the demand curve, supply curve and equilibrium price & quantity. Therefore it is relation ship curve. Demand and Supply curve
Basic questions of economy
Four basic economics questions what goods to produce, how to use resources in the production process, who receives the finished goods and when to produce the goods. Given limited resources of labour, raw materials and time, economic agents have to decide what to produce. Hence Most primitive economies concentrate on producing food and shelter – the basic necessities of life. Basic economy question
Interpretation of trigonometric graph
Interpretation of trigonometric graph of y = a sin x and y = a cos x. Amplitude is a indication of how much energy a wave contains. Graphs of y = a sin bx and y = a cos bx introduces the period of a trigonometric graph. Graphs of y = a sin(bx + c) and y = a […]
The Basic Economic Problem
The fundamental economic problem is the issue of scarcity – but unlimited wants. Therefore, an underlying feature of economics is concerned with dealing how to allocate resources in society to make the most efficient and fair use of resources. Basic Economic Problem
Production, consumption and opportunity ...
In economics, opportunity costs refer to the value of the next-best alternative use of that resource given limited resources. In daily life, opportunity costs are the benefits or pleasures foregone by choosing one alternative over another. Also Opportunity costs apply to allocating resources in production Production, consumption and opportunity costs
Positive and Normative Statements
A positive statement, on the other hand, is a factual statement. The easiest way to discern normative statements from positive statements is to whether the statement is a fact or opinion. Positive and Normative statement
Basics of economy
Economics is a social science concerned with the production, distribution, and consumption of goods and services. Also It studies how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their wants and needs. Further It called Micro and Macro Economics. Basics of economics
Coterminal Angle
Coterminal angles are angles in standard position (angles with the initial side on the positive x -axis) that have a common terminal side. For example 30 ° , − 330 ° and 390 ° are all coterminal Coterminal angle
Linear equation
Equation is one that is dependent only on constants and a variable raised to the first power. Linear equation also forms a straight line on a graph. Most algebraic equations require the skills used when solving linear equations. Also in graph line cut x-axis at one point. This fact makes it essential that the algebra student becomes proficient in solving these problems. […]
Equation of tangent and normal of transc...
The Equation of Tangents and Normals, If you differentiate the equation of a curve, you will get a formula for the gradient of the curve. Are you working to find the equation of a tangent line (or normal line) in Calculus? The derivative of a function at a point is the slope of the tangent line at this point. The normal line is defined as the line that is perpendicular to […]
