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DEMAND AND TYPES OF DEMAND

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  DEMAND Objectives of demand 1.  To understand different types of demand  in economics. 2.  To identify consumer demand  for goods and services. 3.  To explain complementary demand  (goods used together). 4.  To understand substitute demand  (goods used instead of another). 5.  To know joint demand  (two or more goods demanded together). Short Abstract on Demand Demand is an important concept in economics. It refers to the quantity of a good or service that consumers are willing and able to buy at different prices during a given period of time. The law of demand states that when the price of a product increases, the demand decreases, and when the price decreases, the demand increases, assuming other factors remain constant. Demand is influenced by factors such as income, taste, price of related goods, and population. Understanding demand helps producers and businesses decide the level of production and pricing in the market. Readin...
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E-CONTENT ON UNEMPLOYMENT

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         UNEMPLOYMENT   OBJECTIVES 1.  To understand the concept of unemployment. 2. To measure the extent of joblessness   . 3. To identify types of unemployment 4. To understand causes of unemployment . 5. To plan employment policies . ABSTRACT Unemployment is a major economic problem that occurs when people willing to work cannot find jobs. It takes different forms such as disguised, structural, seasonal, technological, cyclical, and frictional. The main causes include population growth, lack of skills, and limited job opportunities, leading to poverty, reduced productivity, and social issues. Effective solutions lie in skill development, industrial growth, self-employment, and government initiatives. VIDEO  https://youtu.be/j_pC3Q5BFGI D E FINITION OF UNEMPLOYMENT Unemployment is a situation when a person actively searches for a job and is unable to find work. Unemployment indicates the health of the economy. The unemployment rate is...
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EVOLUTION OF MONEY

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  EVOLUTION OF MONEY OBJECTIVES 1.Facilitate exchange of goods and services in the absence of a standardized medium of exchange. 2.Use universally accepted goods as a medium of exchange and store of value. 3.Introduce standardized coins made from precious metals to ensure uniformity in trade. 4.Replace heavy and scarce metals with lightweight, portable currency backed by reserves of precious metals (initially). 5.Increase efficiency and accessibility of transactions through electronic systems. MIND MAP DEFINITION OF MONEY Economists identify more than one kind of money. In this lesson, "money" refers specifically to the money of exchange, i.e., money as a   symbol of value and as part of a system of payment. This form of money is traditionally a physical object that one provides in exchange for goods or services. FUNCTIONS OF MONEY There are many static and dynamic functions of money as follows: Static Functions of Money A medium of Exchange – In a...
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