Success Roar Classes

11th – Economics

Consumer and his Utility

Synopsis A consumer is a person who consumes the goods and services to satisfy his/her wants. Introduction Every person on this earth consumes a lot of goods and services to satisfy his/her wants. The purpose behind consumption is always to get maximum satisfaction with the available resources i.e. income and given prices of the goods …

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What is Economic Problem?

Synopsis  Economic Problem is the problem of Choice which arises due to scarcity of resources, which have alternative uses. Introduction  We know it very well that human wants are never-ending. At the time one is accomplished, another one arises. These wants no doubt is the biggest motivation for us to work but at the same …

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