Factors Influencing Elasticity of Demand There are many factors on which the elasticity of demand depends. These factors influence the elasticity of demand of a commodity either individually
Advantages of Socialistic Economy The following are some of the advantages of Socialistic Economy. 1. Best Utilization of Resources Socialistic economy can bring about efficient and best utilization
Defects or Wastes of Monopolistic Competition The many defects of monopolistic or imperfect competition are referred to as wastes of competition. Five kinds of wastes or defects are
Methods of Economic Analysis Like any other science, Economics adopts two important methods in its investigations and formulation of laws and principles. The two methods are Deductive Methods
Limitations of Consumer’s Sovereignty Is consumer really an-undisputed ‘monarch’ in a capitalistic economy? Are there any limitations to his powers? To what extent can this consumer-king extend his
Meaning of Capitalistic System Capitalism stands for an economic order in which the instruments of production (Land, Labour, Capital and Organization) are owned and controlled privately and production
What is Speculation? By speculation is meant the purchase or sale of anything in the hope of profit from anticipated change in price. The essence of speculation lies
Role and Significance of Elasticity of Demand The concept of Elasticity of demand has significant role to play in economic theory and practice and we shall study the