“Point of satiety is an ideal point of consumption.” Point of satiety in consumption is the point where a consumer maximizes his level of satisfaction and...
University of the Punjab Syllabi and Courses of Reading of B.Com. Part I & II (New I.T Scheme) Two year Pass Course Examination effective from Session 2001-2003 and...
Differentiate between internal economies of scale and external economies of scale Internal Economies of Scale Internal economies of scale occur within a firm. These...
Differentiate between demand pull and cost push inflation. Demand Pull Inflation If prices rise continuously due to rise in demand for goods, it is called demand pull...
Briefly discuss the concept of Pareto efficiency. Pareto efficiency, or Pareto optimality, is an economic state where resources cannot be reallocated to make one...
How the growth rate of output determines in the exogenous growth model? Exogenous growth theory states that economic growth arises due to influences...
Discuss different methods for measuring National Income or Gross domestic product Ans. Methods of Measuring National Income: Three methods are used to measure...
Q. Write down the functions of commercial banks. Ans. The main functions of commercial banks are: Receiving of Deposits: Advancing loans: Collection & Payment of...
“The Real Price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.”
Adam Smith
Adam Smith (1723-1790) Adam Smith was a philosopher and economist who is best known for his classic work “An Inquiry into the Nature and Causes of the Wealth of Nations”...