ASSiqnment-1

B qangadhar
SCt 1
6o-19-133 139
Explain the Gon cept of Scarcit and how the re
Soor ce5
aue csiked on the b sis o Aulabilit

9 i wooldnt havc to
Scora hy economics Cxist e 0"
abawt hou Scarcc ejources are allocattdi those rejouoceswec
Olinitcd. it Should be empha zi zed thab econon ics i6 primary
Concerne d i t dcarciof rey Oorces
hou mch
economics. when it i5 Jtudie.d
ScCri is mother of when
uhat is he sUPply is to
be cnalyzcd.
and
is the oquircm ert
then that reso vrce is scaroe resource
domad is qreater than Spply
when demand
esou rce
whe demd is not qrea ter than Supp 1ho
is not Said to ke SCarce
5not greatcr tha Suppl h ICSowrce

reSource callcd
there is no restrichon on SoPply is
9py resource on which

ulimiled resourc

sims
Fxplai'n the of frm and xplain tyres of
Concc.pt
6bi li zes the resooroc.s soch o 1au
Firm is a single unit which Laboor
Labo ur
Gtc to Pod uce g00 ds
and Service - lasd
matena labou here arc five
five
factors ok Ptoduchion
apital 0poi tation are or
4ypes fimS.
toit
Km is owncd and Conhollad b one Single
Sole lader
truder.
it 18 tnouon a Sok
inoividual
whon wSin s5 is Gontro led two or mo ra
Parenrship im
t is FpO w G) Sole traer portner ship Rm
odividual
hosorec
to sharc Pri bs .
 act i6 enouon j
doiot Stok CompanyA tirm eqistrod onder Companics
oint stoct comPar Too types phivate & publio Compa.
act that is
Cor poraMonS Any firm uhioh is cieatcd by hw onder an

Go9sidere d os corporubion
societi Gs
hrm 0gistere d under o pporati ve
Co-op eraive socie ny
ppa ali
ve
sSo cieh h
theony th
. anagcnial Eono mics is the Tntcgrai on o cco nomjc

hc osine-s6 praciGe -Discuss.

Deci sion nteyral part ot todhy's besiness ma naqcmeo E
Making is an

9 anger fuce6 a no of pm blema relates to inuenton,cast,marke ing

cfG Eco oomists are instre sted in eBfcicob vse or Scarc.e
Prioing
-

eSrco6 hence they are natota lM in torested in bosiness dccisiorz

Pro blevns and hey aply ecoonio& in manujemnen& of s i 8 s

Proolem8 Hence mancgeria Econo mics is ECoromios applicd in

haue to Cdoce thc
deci Sion aing in hsiness practicc. we

ccoromiGs
Con licb botuoo en decision maeing and manogtria|
o a inji Ec he pnftS