# Author name: Tanmay Chakrabarty

Tanmay Chakrabarty is a professional web application developer working professionally for 7+ years with experience in both local and global projects. He likes to share helpful contents such as Q/A, development tutorial etc. on this blog.

## Show the market demand for a commodity with example and explanation.

Market Demand For a Commodity : The market demand for a commodity means the total demand for a commodity made by all the individuals in the market. The market demand for a commodity gives the alternative amounts of a commodity demanded per time period, at various alternative prices, by all the individuals in the market. …

## What is shift in demand curve? Explain with example.

Shift in Demand Curve : Shift in demand curve means the change in demand curve. This change will have to be for the change in ceteris paribus. That is when the price of a commodity remains constant and the other things which can affect the demand of the commodity changes, a shift can be found …

## Explain the law of negatively sloped demand curve.

Law of Negatively Sloped Demand Curve:             First, obtain the demand schedule; the formula is,                                                 Qdx = f(Px)             Considering, an individual demand function for a commodity X is given by,                                                 Qdx =8 – Px    cet.par.             Here, Qdx  is the quantity demanded and Px is the price …

## Draw and explain a demand curve by obtaining a demand schedule.

Obtaining Demand Schedule: To obtain the demand schedule the formula is,                                                 Qdx = f(Px) Considering, an individual demand function for a commodity X is given by,                                                 Qdx =8 – Px    cet.par. Here, Qdx  is the quantity demanded and Px is the price of X commodity. Now substituting various prices of X in …

## What is / Define Demand, Demand Schedule and Demand Curve.

Demand:   The desire for a commodity of an individual or a group will be called their demand when they are able to pay for that commodity. That is demand is desire with account to pay. In Benham’s words, “Demand for anything at a given price is the amount of it which will be bought per …

## What is opportunity cost? How / Is opportunity cost related with PPF?

Opportunity Cost: Life is full of choices. Because resources are scarce, we must always consider how to spend our limited income or time. In a world of scarcity choosing one thing means giving up something else. If there is no increase in productive resources, increasing production of a first good has to entail decreasing production …

## What is production possibility frontier (PPF)? Explain.

Production Possibility Frontier (PPF) : In economics, a production possibility frontier (PPF) is a graph that shows the different rates of production of two goods that an individual or group can efficiently produce with limited productive resources. The PPF shows the maximum obtainable amount of one commodity for any given amount of another commodity or …

## What are the differences between microeconomics and macroeconomics?

Differences Between Microeconomics and Macroeconomics:  The study of economics is divided into microeconomics and macroeconomics by the modern economists. Both of them discuss the economical activities but are used in different sectors under different circumstances. In spit of having some similarities, they also have some differences which have been given below. Also Read: What are …

## What are microeconomics and macroeconomics?

The study of economics is divided into microeconomics and macroeconomics by the modern economists. Both of them discuss the economical activities but are used in different sectors under different circumstances. Microeconomics:  The word “Micro” has come from a Greek word “Mikros” which means millions of parts. Microeconomics discuss about individual parts of the whole economy. …

## What are the three problems of economic organizations? How can the three problems of economic organization be solved in free and mixed economics?

Three Problems of Economic Organizations: In every economy; economic organizations, irrespective of their type, have to face and solve three problems of economics. These three problems are as follows, What commodities are produced & in what quantities. How goods are produced. For whom goods are produced. Description and solution to these problems in fee and …

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