Indifference Curve Analysis The indifference curve analysis is a graph showing the different combinations of two goods that report the same satisfaction to a person, and are preferred to other combinations. When one arrives at two options that are indifferent to the individual, these two points that represent them are on the same indifference curve […]
Difference between Microeconomics and Macroeconomics
Microeconomics and Macroeconomics both are the branches of economics, studying the behavior, actions and decisions of individual economic agents. Such as individuals, families or companies, and their relationships and interaction in the markets. In this sense, it differs from macroeconomics, which focuses on large – scale economic systems, such as a country or region. Difference […]
Partnership Agreements – Types Of Partners
Partners and Partnership A partnership agreement can be defined as “ the document in writing which is signed by all the partners in the business as well as contain all the matters governing mutual rights, duties, and liabilities of the partners in the conduct and management affairs of the partnership”. Although partnership may depend on […]
Partnership – Types and Dissolution of Partnership
Partnership Before moving towards the types of partnership, it is so important to know the partnership definition. In partnership, probably two or more persons come together, bring some capital and skills and work together. Moreover, share the profit and loss in business as per the agreement. As compared to Sole Proprietorship, partnership has more capitals, […]
Budget Line Formula | Budgetary Restriction
The budget line formula shows all possible combinations of goods that consumers can purchase if exhausted their entire budget on such property. Consumer Decision The decision of the consumer as to the set of goods they want to purchase for consumption is determined by two factors: Tastes or preferences Rent Available Basic Assumptions Consumer theory […]
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