Industry is said to be that part of business activities which works in order to produce want satisfying goods with the help of material resources readily, ...

Commerce helps in making goods available to the consumers at right place, time, quantity, price and manner. All kinds of activities that form link between ...

The U-shape of the LAC curve reflects the law of returns to scale. According to this law, the LAC curve initially falls as output is increased with change in ...

Movement along a demand curve : It refers to change in quantity demanded due to change in price in the same demand schedule. When price falls, then quantity ...

Commercial policy: Government policy related to the international trade is called commercial policy. A country either uses free trade policy or ...

Algorithm: Technically, the set of instruction or description in a particular notation of the process is termed as algorithm. An algorithm is a finite ...

Raja Ravi Verma came to widespread acclaim after he won an award for an exhibition of his paintings at Vienna in 1873. He travelled throughout India in search ...

Amir Khusrau was an Indian musician, scholar and poet. He was an iconic figure in the cultural history of the Indian subcontinent. A Sufi mystic and a ...

Returns to a Scale: When all factors are increased simultaneously and ultimately the production of output also changes. Concept of returns of returns to ...

Income consumption curve may be defined as the locus of points representing successive consumer equilibriums as the income of the consumer increases, keeping ...

Science in Iron Age: The culture was being developed between India and Greece e.g. caste structure. Higher level work was given to higher caste people while ...

Arab Science: The Arabs traced the store of knowledge step by step back to the Greek works. They translated these writings, absorbed them and developed them ...