States the Welfare Definition in economics
States the Welfare Definition in economics?
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This was Alfred Marshall who rescued the economics by the above criticisms. Through his classic work in the year 1890 he published “Principles of Economics” and moved the emphasis by wealth to human welfare.
By his point of view, wealth is simply a means to a finish in all activities, the end being human welfare. Then he adds, that economics as “is on the one side a study of the wealth; and another and more significant side, a part of the study of man”. He gave primary significance to man and secondary significance to wealth. Professor A C Pigou was as well holding Marshall’s view. Such definition demonstrated the scope of economics and rescued economics by the grip of being termed as “Dismal science”, however, this definition as well criticized on the grounds such that welfare can’t be measured correctly and this was avoided the valuable services as teachers, lawyers and singers etc as non-material welfare.
State the laws of production.
States the determinants of elasticity?
What is Demand Forecasting?
States the Extrapolation statistical Method of Demand Forecasting?
Explain the Proportional Method of Measurement of Elasticity.
When labor was free, in that case this purely competitive firm as in illustrated graph would hire. (1) 600 workers. (2) 700 workers. (3) 800 workers. (4) 900 workers. (5) 1000 workers. Q : Features of Marginal costing Write down Write down the features of Marginal costing?
Write down the features of Marginal costing?
CD sales have fallen from 2000, although sales of DVDs have increased, suggesting such that: (w) supply of prerecorded music should have fallen. (x) law of demand does not apply to the music market. (y) demands of many consumers adjusted to new technology. (z) music i
Illustrates the Barometric technique of Demand Forecasting?
Explain the role of demand factor in pricing briefly.
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