Labor
Labor Labor is mental or physical service provided to others for economical reward. There should be economic objective behind the performance
Cross elasticity of demand
It refers the percentage change in quantity demand of one commodity i.e. x due to certain change in
Law of variable production
The law of variable production explains about the short run production phenomenon. In the short run if we
Determinants of demand
Price: Demand is inversely related to price. If price increases, demand decreases and vice versa. But in case of Giffen goods (goods that are inferior
Difference between fixed and variable cost
S.No. Fixed cost Variable cost i. Those cost which are included