Factors of production can be defined as inputs used for producing goods or services with the aim to make an economic profit. In economics, there are four main factors of production, namely land, labor, capital, and enterprise. The price that an entrepreneur pays for availing the services of these factors is called factor pricing.
In this “Factor Pricing - Applied Economics” you will learn about following topics:
- Introduction to Factor Pricing
- Concept of Factor Pricing
- Aspects Of Factor Of Production
- Theories of Factor Pricing
- Modern Theory of Factor Pricing (Demand and Supply Theory)
- Demand for a Factor of Production
- Supply of a Factor of Production
- Determination of Market Price of a Factor
- Criticism of Demand and Supply Theory
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BCA 6th Semester Applied Economics Notes:
Unit I: Introduction Of Economics - Applied Economics
Unit II: Theory Of Consumer Demand - Applied Economics
Unit III: Analysis Of Cost And Revenue - Applied Economics
Unit IV: Theory Of Production - Applied Economics
Unit V: Product Pricing - Applied Economics
Unit VII: National Income - Applied Economics
Unit VIII: Theory Of Employment - Applied Economics
Unit IX: Consumption Saving And Investment Functions - Applied Economics
Unit X: Business Cycle - Applied Economics
Unit XI: The Mechanism Of Foreign Exchange - Applied Economics
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