Production Possibility Curve (PPC) or Transformation Curve – Indian Economy UPSC Notes
Production Possibility Curve (PPC) or Transformation Curve The Production Possibility Curve (PPC) , also known as the Production Possibility Frontie…
Posts
MINIMUM SUPPORT PRICE (MSP) – Indian Economy UPSC Notes
MINIMUM SUPPORT PRICE (MSP) The Minimum Support Price (MSP) is the price at which the Government of India guarantees to purchase crops from farmers,…
Elasticity of Demand – Indian Economy UPSC Notes
Elasticity of Demand – UPSC Notes Definition : Elasticity of demand measures how the quantity demanded of a good changes in response to a change in…
Justin Trudeau's Resignation: Reasons, Implications, and the Road Ahead for Canada
Canadian Prime Minister Justin Trudeau has announced his intention to resign as leader of the Liberal Party and, subsequently, as prime minister.He w…
What are Veblen Goods - Economics UPSC notes
What are Veblen Goods? Definition: Veblen goods are a category of goods for which demand increases as their price rises, defying the law of deman…
What are Luxury Goods - Economics UPSC notes
Luxury Goods is a key concept in economics and is relevant for the UPSC syllabus under topics related to market structures, income inequality, and…
What are Giffen Goods - Economics UPSC notes
Giffen goods are an important concept in economics, often discussed in the context of demand theory, and are relevant for the UPSC syllabus, particu…
Law of Demand - Economy UPSC notes
The Law of Demand is a fundamental principle in economics that states: As the price of a good or service increases, the quantity demanded decreas…
Factors affecting Demand - UPSC notes
Factors affecting demand The demand for goods and services in an economy is influenced by several key factors. Here's an overview of each factor…
Engel's Law: UPSC Notes
Engel's Law: UPSC Notes Introduction Engel's Law is an economic principle proposed by the German statistician Ernst Engel in 1857. It state…