Notes with worthy tutorials
Income elasticity of demand : A persons demand for a good may change with hisher change in income. The income elasticity of demand is the ratio of percentage change quantity purchased per time to the percentage change in income. Thus, Here, em = Income elasticity of demand m = initial income Q = … Read more
Price Elasticity of Demand : Price elasticity of demand measures the quantitative response of demand to a change in price. This is the ratio of percentage change in demand to the percentage change in price. So the price elasticity of demand is, Here, ep = price elasticity of demand ΔQ = change in quantity … Read more
Elasticity : In economics, elasticity is the ratio of the percentage change in one variable to the percentage change in another variable. Elasticity is a popular tool among empiricists because it is independent of units and thus simplifies the analysis. … Elasticity of Demand : The demand of a commodity depends … Read more
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 … Read more
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. … Read more
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 … Read more
Solution : Whenever two or more than two non-reacting substances are mixed, the resulting system is called a mixture. A solution is a homogeneous mixture of two or more substances in their molecular level. The component having the same physical state as that of the resulting solution is called solvent, the other … Read more
Merging Sort: Merging sort requires two previously sorted array which will be merged into one single array which will be a sorted array. If the source arrays are not sorted then the algorithm won’t work. If you need to sort two unsorted arrays then you can place one array after another then operate the new … Read more
Understanding Variable scope is very important because it can sometime leads us to unwanted value changing or hazards while coding. Like, we have declared a variable but still its showing error while compiling or running. Look at the following code, for(int x=0;x<5;x++) //For Loop 01 { cout<<“Inside For Loop 01”; } cout<<x<<” times”; … Read more
Addressing 5 ROM Chips, Each of 4 KB Using 74LS138 Decoder: The following diagram is representing the addressing of 5 ROM chips using 74LS138 where each chip is of 4 KB. Explanation: From the previously given figure 01 it can be found that the Chip Select (CS) of the 5 ROM chips has been attached … Read more