Post Views: 0 Localisation of industries refers to the concentration of many firms of an industry in a particular area. Advantages And Disadvantages Of Localisation Localisation has both merits and… Read More »LOCALISATION OF INDUSTRIES
Post Views: 0 Location of industry refers to the siting of an industry in a particular place. Factors Influencing… Read More »LOCATION OF INDUSTRY
Post Views: 0 Meaning Industry An industry consists of a group of firms producing broadly similar commodities. Examples are the shoe industry, the transport industry, the cement industry, etc. The… Read More »INDUSTRIES IN NIGERIA
Post Views: 0 In a physical sense, a market means a fixed place where people meet to buy and sell goods; that is, a market place. In economics, a market… Read More »MARKET STRUCTURE
Post Views: 0 Supply of labour may be defined as the total number of people of working age offered for employment at a particular time and at a given wage… Read More »SUPPLY OF LABOUR
Post Views: 0 Labour market is defined as a market which workers and employers are brought into contact and conditions of work are decided. It is made up of people… Read More »LABOUR MARKET
Post Views: 0 An economic system may be defined as a medium or an organized way by which the means of production in a state are utilized in order to… Read More »ECONOMIC SYSTEMS
Post Views: 0 Revenue refers to the income derived by a producer or firm from business activities or from the sale of his or its products. … Read More »REVENUE CONCEPT
Post Views: 0 MEANING OF COST OF PRODUCTION Cost of production can be defined as the sum of total of all the payment to the factors of production used in… Read More »COST CONCEPT
Post Views: 0 A production possibility curve (PPC) is a graphical or diagrammatic illustration of all possible bundles or combinations of two types of goods which a society can produce… Read More »PRODUCTION POSSBILITY CURVE
Post Views: 7 RATIONING This is a prevailing economic situation of scarcity of essential commodities in the market in which consumers are allowed to have access to these commodities at… Read More »RATIONING AND HOARDING
Post Views: 1 PRICE CONTROL POLICY This is defined as a process by which the government or its agency fixes the price of essential commodities. That is, it is a… Read More »PRICE CONTROL/ LEGISLATION
Post Views: 1 Cross Elasticity of Demand is the degree of responsiveness of quantity demanded of commodity X to a little change in the price of commodity Y. Cross elasticity… Read More »CROSS ELASTICITY OF DEMAND
Post Views: 1 Income elasticity of demand is the degree of responsiveness of quantity demanded of a commodity to a little change in consumer’s income. That is, it measures how… Read More »INCOME ELASTICITY OF DEMAND
Post Views: 1 Elasticity of supply can be defined as the degree of responsiveness of change in quantity supplied as a result of change in price. Elasticity of supply measures… Read More »ELASTICITY OF SUPPLY
Post Views: 1 DEFINITION OF ELASTICITY OF DEMAND Elasticity of demand may be defined as the degree of responsiveness of demand as changes in price, income, prices of other commodities… Read More »ELASTICITY OF DEMAND
Post Views: 0 CHANGE IN QUANTITY DEMANDED A change in quantity demanded, is otherwise known as movement along a particular demand curve that is only influenced by price. When there… Read More »DEMAND AND SUPPLY
Post Views: 4 THEORY OF CONSUMER BEHAVIOUR The theory of consumer behaviour is also known as the theory of household behaviour. It is primarily concerned with how the consumer or… Read More »THEORY OF CONSUMER BEHAVIOUR
Post Views: 1 MEASURES OF DISPERSION This also known as measures of spread or variation describes how the data given in any distribution are spread about the ‘Mean’, or the… Read More »MEASURES OF DISPERSION OF A GROUPED FREQUENCY DISTRIBUTION
Post Views: 1 MEASURES OF CENTRAL TENDENCY These are the values which show the degree to which a given data or any given set of values will converge toward the… Read More »MEASURES OF CENTRAL TENDENCY