Tag Archives | Definition

Market: Definition and Importance | Economics

In this article we will discuss about:- 1. Definition of Market 2. Conditions Governing the Extent of the Market 3. Functions of Markets 4. Importance of Markets. Definition of Market: In ordinary speech, the term 'market' refers to a place where buyers and sellers meet for transactions, e.g., Vardaan Market of Calcutta, Palika Bazar of New Delhi, Crawford Market of [...]

By |2017-01-13T05:58:21+05:30January 13, 2017|Market|Comments Off on Market: Definition and Importance | Economics

Economic Rent: Definition and Determinants (With Diagram)

In this article we will discuss about:- 1. Definition of Economic Rent 2. The Division of Total (Factor) Incomes 3. Determinants of the Division. Definition of Economic Rent: In economics rent refers to producer's surplus. It is different from contract or commercial rent, which refers to the price paid to hire something, such as a machine or a piece of [...]

By |2017-01-13T05:55:21+05:30January 13, 2017|Economic Rent|Comments Off on Economic Rent: Definition and Determinants (With Diagram)
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