Category: GGSIPU MBA NOTES

Indifference curve analysis is basically an attempt to improve cardinal utility analysis (principle of marginal utility). The cardinal utility approach, though very useful in studying …

“Other things remaining the same when a person takes successive units of a commodity, the marginal utility diminishes constantly”. The marginal utility of a commodity …

The Law of Equi-Marginal Utility is an extension to the law of diminishing marginal utility. The principle of equi-marginal utility explains the behavior of a …

The utility is a psychological phenomenon; that implies the satisfying power of a good or service. It differs from person to person, as it depends …

The incremental concept is closely related to the marginal costs and marginal revenues of economic theory. Incremental concept in managerial economics involves two important activities which are as follows: …

The production possibility curve represents graphically alternative produc­tion possibilities open to an economy. The productive resources of the community can be used for the production …

Opportunity costs are cash outflows prevented by taking one course of action instead of another. They include returns, which the entrepreneur could have earned in …

Business firms are a combination of manpower, financial, and physical resources which help in making managerial decisions. Societies can be classified into two main categories …

Many new subjects have evolved in recent years due to the interaction among basic disciplines. While there are many such new subjects in natural and …