Category: MDU BBA NOTES

It is important to explain the concept of optimum firm. The optimum firm refers to the best or ideal size of the firm. More specifically …

The six main factors responsible for determining the size of the firm are as follows: Entrepreneurial Skill The most important factor of comes is the …

Pure or perfect competition is a theoretical market structure in which the following criteria are met: All firms sell an identical product (the product is …

Non-price competition refers to competition between companies that focuses on benefits, extra services, good workmanship, product quality – plus all other features and measures that …

The word Oligopoly is derived from two Greek words – ‘Oligi’ meaning ‘few’ and ‘Polein’ meaning ‘to sell’. An Oligopoly market situation is also called …

The four factors of production are inputs used in various combinations for the production of goods and services to make an economic profit. The factors …

In the words of J.B. Clark, “Under static conditions, every factor including entrepreneur would get a remuneration equal to marginal product.” As per Mark Blaug, …

The Modern theory of factor pricing provides a satisfactory explanation of the problem of distribution. It is known as the demand and supply theory of …

According to modern economists, rent is considered as the payment made against the use of land by a tenant. They explained the concept of rent …

The concept of quasi-rent was given by Alfred Marshall. He defined quasi rent as surplus earnings generated by the factors of production, except land. The …