What is Marginal Cost

Marginal cost is change in total cost when we produce one more unit. If you will produce one more unit, you will see change in the total cost. It may be decrease or increase and this change will be marginal cost. In short form, we say it as MC.

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Relationship between Average Cost Marginal Cost and Total Cost

Following observations with regards to the relation between average cost and marginal cost. We divide this relationship into two parts. a) Relationship of average cost and marginal cost and b) relationship of total cost and marginal cost.

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Economics Resources

On the Basis of Topic 

1. Economic Theories 

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The Economics Problem

Economic theory deals with the laws and principles which govern the functioning of an economics and its various parts.  An economics exists because of two basic facts.  Firstly, human wants for goods and services are unlimited and secondly, productive resources with which to produce goods and services are scarce.

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Keynesian Theory of Income and Employment (Video Tutorial)

We have explained Keynesian theory of income and employment in simple hindi for Indian Students. As per Keynesian theory, supply does not create its own demand.

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What is Economics Education

Economics education is the learning resource of economics. In the economics education, teachers research new ways to teach economics. They teach both micro and macro economics. In economics education, students learn different economic laws. They  learn GDP, national income, employment and other major economic issues. All these economic issues is very important to know for better development of economy. 

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Say's Law of Market

Lecture Series on Economics by Prof. Vinod Kumar.

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