Category: Economics

Economics

The Iso-cost Line

The iso-cost line is an important component in analysing producer’s behaviour. The iso-cost line illustrates all the possible combinations of two factors that can be...
Economics

Organization

The man behind organizing the business is called as ‘Organizer’ or ‘Entrepreneur’. An organiser is the most important factor of production. He represents a special...
Economics

Capital

Marshall says “capital consists of all kinds of wealth other than free gifts of nature, which yield income”. Bohm-Bawerk defines it as ‘a produced means...