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Marshal Defined Economics as:

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Resources:

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Land:

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Capital:

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Human Capital:

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Physical Capital:

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Labour :

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Organization:

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Positive statement:


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vormative Statement:


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Imperical Study:

Deficit:

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Surplus:

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Trade off:

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Inflation:

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Stagflation :

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Efficiency:

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Opportunity Cost:

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Definition

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Price Elasticity

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Determinants of Price Elasticity of Demand

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Ranges of Elasticity

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Cross Price Elasticity

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Income Elasticity

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Production function as a graph:

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