Meaning of Isoquants

Isoquants: An Isoquant is a locus of technically efficient combinations of two factors of production their utilization from which the same level of output is produced; its slope measures the marginal rate of technical substitution (MRTS) of one factor (eg Read More …

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Meaning Exchange rate

Refers to the rate at which one currency exchanges for another that is the amount of one currency that is exchanged for a unit of another currency in a given exchange rate regime. In a fixed exchange rate regime, the Read More …

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Sources of monopoly powers.

Sources of Monopoly power: Exclusive ownership and control of resources (factors of production) Patent rights eg. beer brands like Tusker, soft drinks like Coca Cola etc. Natural monopoly which results from economies of scale i.e minimization of average total cost Read More …

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Meaning of Monetary Policy

Monetary policy refers to the manipulation of money supply, liquidity and interest rates in the economy in order to achieve increased employment, economic growth, reduced inflation and improved balance of payments.

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