Unit 2.1 - Demand, Supply and Market Equilibrium - Numerical Illustrations
1. If autonomous demand is 12 and slope of demand curve is 2. Find the demand function.
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Syllabus of Economics - Grade XII (2078)
Eco 304 Credit Hours: 5 Teaching Hours: 160 Course Contents
3. Theory of Production
Concept of Production Technological transformation of input (factor input: land labor, capital, organization & non-factor input: water, electricity, raw materials) into output (finished goods & services) is known as production. In other words, production is the process of making goods to satisfy human wants. Production is also relating to the process of creating or improving utility or creation of exchange value.
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