5 Questions
What does the Law of demand state?
As the price of a good increases, the quantity demanded decreases, all other things being equal
What is the meaning of elasticity of demand?
It measures the responsiveness of quantity demanded to a change in price
What is the central problem of an economy?
Allocation of resources among competing ends
What does the Theory of consumer’s behavior –Marshallian approach focus on?
Focuses on consumer's equilibrium through utility maximization
What does the Law of supply state?
As the price of a good increases, the quantity supplied increases, all other things being equal
Study Notes
CA Foundation Economics Study Material
- The study material is thoroughly revised and updated to provide high-quality learning.
- It is designed to help students achieve desired results and score well in the CA Foundation Economics exam.
Key Features
- Exhaustive theoretical explanations of all chapters, including diagrams and numerical formulae.
- Coverage of all Institute of Chartered Accountants of India (ICAI) module MCQs with solutions.
- Additional classwork MCQs for practice in each chapter.
- Chapter-wise homework MCQs, exclusively covering all topics of each chapter.
- One mock paper with solutions for practice.
- Two model test papers, each with 60 questions and solutions, providing over 500+ MCQs in total.
Explore the thoroughly revised & updated study material of CA Foundation Economics to excel in your academic pursuits. This book is designed to provide exhaustive theoretical explanations and enhance your understanding of economic concepts, empowering you to achieve exceptional results in your studies.
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