Airfare Daily Deals eCigarettes Eyeglasses Hotels Jewelry Online Backup Online Dating Online Printing Online Tickets Skin Care Textbook Rentals Vitamins Web Hosting Weddings
Find coupons, reviews and similar sites for any retailer
SEARCH

My Bio

A simple Guy from the small town sombaria, I sell Onions these days and it surely gonna make me bloody rich. Jokes apart, I am an internet savvy person who loves working online, basically I write articles and work as an internet marketer online. more...

My Statistics

I've published 503 articles that have been viewed 1,296,189 times. I've received +427 recommendations as an expert for my writing.
Bio Followers (62)
Economics

My Economics Articles

Gazu Lakhotia has received +17 recommendations on their Economics articles and is the #2 ranked expert in this topic.
The assumptions of Indifference Curves and their properties The indifference curve technique does not make use of the Marshallian concept of measurability of utility in quantitative terms. On the other hand, it is based upon the concept of scale of preferences and the ordinal measurement of utility. Utility is a subjective entity, a psychological feeling and is, therefore, not amenable to quantitative measurement.
Published by Gazu Lakhotia 44 months ago in Economics | +0 votes | 1 comments
Elasticity of demand and its practical importance The concept of elasticity of demand is not merely an abstract idea and of academic interest. Its practical importance is very great. (i) The concept of elasticity of demand is made practical use of by the Finance Minister and the monopolist. When the Government imposes a tax on a commodity, its price will tend to rise. But if the demand is very elastic, it will considerably fall when the price has risen. The result will be that Government will ...
Published by Gazu Lakhotia 44 months ago in Economics | +1 votes | 1 comments
Factors Determining Elasticity of Demand There are several factors which determine the elasticity of demand. (i)For necessaries and conventional necessaries the demand is inelastic or less elastic- We have to buy these commodities whatever be the price. A change in price, therefore, does not matter so far as the demand for such commodities is concerned. Salt is one such thing and wheat another. But in a poor country like India-even the demand for such things is somewhat elastic.
Published by Gazu Lakhotia 44 months ago in Economics | +3 votes | 0 comments
Degrees of Price Elasticity of Demand A change in price leads to a change in demand. If price increases, demand contracts, and vice versa. But variation in demand is not always uniform when there is a change in price. In some cases, with a given change in price, demand shows a marked change, whereas in other cases the demand is not so responsive to changes in price.
Published by Gazu Lakhotia 44 months ago in Economics | +1 votes | 1 comments
Meaning of Elasticity of Demand There is a very close connection between the quantity of the commodity purchased and the price of the commodity. Changes in prices are bound to affect the purchases. According to the law of demand, there is an inverse relation between demand and price.
Published by Gazu Lakhotia 44 months ago in Economics | +2 votes | 0 comments
Derivation of the Law of Demand from the Law of Equimarginal Utility Price is one of the factors which bring about a change in demand. But in this case the change is called extension or contraction of demand. There are, however, several other factors which can bring about a change in demand independently of a change in price. In such cases, we shall say that the demand has really increased or decreased as distinguished from mere extension or contraction. T
Published by Gazu Lakhotia 44 months ago in Economics | +0 votes | 0 comments
Definition of the law of demand and the exceptions to the Law of Demand Generally the demand curve slopes downwards from left to right. Or, in other words, the higher the price of good, other things is remaining the same, the smaller will be the quantity normally bought. Similarly, the lower the price of a good, the greater will be the quantity normally purchased. This is in accordance with the law of diminishing marginal utility.
Published by Gazu Lakhotia 44 months ago in Economics | +4 votes | 1 comments
Defination (Meaning) of Demand Demand means the quantity of a commodity demanded per unit of time at a certain price. Types of Demand, (a) Price demand means the quantity demanded at a certain price. (b) Income Demand means the quantities demanded at the various levels of income. (c) Cross Demand denotes the quantities demanded with reference to a change in price of some other goods.
Published by Gazu Lakhotia 44 months ago in Economics | +3 votes | 2 comments
Main Shortcomings of Utility Analysis The utility analysis refers to the theory of consumer demand propounded by Marshall. This theory is based on the cardinal measurement of utility and on certain utilitarian premises. The marginal utility analysis has developed two laws, viz., the law of diminishing marginal utility and the law of equi-marginal utility and with the help of these two laws of consumer behavior, it has derived the law of demand. But this analysis suffers from the following short...
Published by Gazu Lakhotia 44 months ago in Economics | +1 votes | 0 comments
Basic Assumptions of Marginal Utility Analysis We shall first mention a few basic assumptions on which the marginal utility analysis is based. We shall see later how the marginal utility analysis has been criticized on the ground that the assumptions on which it is based are unrealistic or invalid. The following are the main assumptions:—
Published by Gazu Lakhotia 44 months ago in Economics | +0 votes | 1 comments
1 >>