Success Roar Classes

CA Neha Gupta

Marginal Opportunity Cost

Synopsis Marginal Opportunity Cost is the rate at which the output of one good is sacrificed for every additional unit of another good. It refers to the “Slope of Production Possibility Curve”. Introduction To understand what is “Marginal Opportunity Cost”, first we need to know the meaning of “Opportunity Cost“. It simply means that lost …

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Central Problems of an Economy

Synopsis There are three CENTRAL problems which are found in every economy – “What to produce?”, “How to produce?” and “For whom to produce?”. Introduction Central problems of an Economy refer to those problems which are faced by all economies whether it is developing or developed, whether it is capitalist, socialist, or mixed. The three …

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