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Economic Resources:

 

Economic Resources:

 

Economic resources are those scarce resources which help in the production of goods and services. The economic resources are classified under two main heads: Continue reading.

 

Land as a Factor of Production:

 

The term land in economics is used in a special sense. It does not mean soil or earth surface alone. Land in economics means natural resources. Continue reading.

 

Labor as a Factor of Production:

 

"Labor is an important factor of production. It is described as any human work which is performed with the help of mind or physique with a view to earn income". Continue reading.

 

Entrepreneur as a Factor of Production:

 

The entrepreneur is an organizer. He is the person who organizes production by bringing together the other three factor of production land, labor and capital. Continue reading.

 

Division of Labor:

 

"By division of labor is meant the specialization, of work. It refers to splitting up of a task into a number of processes and sub-processes and carrying it out by a person or a group of persons who are best fitted for it". Continue reading.

 

Mobility of Labor:

 

"Mobility of labor refers to movement of labor from one place to another or changing of profession or status or grade". Continue reading.

 

Capital as Factor of Production:

 

Capital is an important factor of production. It consists of those goods which are produced by the economic system and are used as inputs in the production of further goods and services.  Continue reading.

 

Capital Formation:

 

Capital is one of the important factors which governs the quantity and the composition of output in a country. Continue reading.

 

Capital Market:

 

There are two types of financing markets: (1) Money Market and (2) Capital Market.

Continue reading.

 

 

 

Principles and Theories of Micro Economics
Definition and Explanation of Economics
Theory of Consumer Behavior
Indifference Curve Analysis of Consumer's Equilibrium
Theory of Demand
Theory of Supply
Elasticity of Demand
Elasticity of Supply
Equilibrium of Demand and Supply
Economic Resources
Scale of Production
Laws of Returns
Production Function
Cost Analysis
Various Revenue Concepts
Price and output Determination Under Perfect Competition
Price and Output Determination Under Monopoly
Price and Output Determination Under Monopolistic/Imperfect Competition
Theory of Factor Pricing OR Theory of Distribution
Rent
Wages
Interest
Profits
Principles and Theories of Macro Economics
National Income and Its Measurement
Principles of Public Finance
Public Revenue and Taxation
National Debt and Income Determination
Fiscal Policy
Determinants of the Level of National Income and Employment
Determination of National Income
Theories of Employment
Theory of International Trade
Balance of Payments
Commercial Policy
Development and Planning Economics
Introduction to Development Economics
Features of Developing Countries
Economic Development and Economic Growth
Theories of Under Development
Theories of Economic Growth
Agriculture and Economic Development
Monetary Economics and Public Finance
History of Money

 

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