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Lesson Posted on 02/05/2020 Learn Economics +1 Tuition

Division of labour

Disha S.

I am a class 12 Student from Commerce background, just completed giving my ISC exams. Searching for English,...

By division of labour we mean specialisation in work. Under it the worker specialises either in the prouduction of a single commodity or single sub-process . It is a system whereby the operations necessary to make a finished product are so minutely divided that each worker performs one or at the most... read more

By division of labour we mean specialisation in work.  Under it the worker specialises either in the prouduction of a single commodity or single sub-process . It is a system whereby the operations necessary to make a finished product are so minutely divided that each worker performs one or at the most only a few operations. 

Types of division of labour: 

1 . Product based division of labour: When a worker specializes in the production of a particular commodity or service, it is called product based division of labour. 

2. Process Based division of labour:  in a modern economy, production of a good or service involves several processes and each worker specializes vin one or two processes. This type of division of labour is known as process based or complex division of labour. 

3. Geographical division of labour: Sometimes due to some reasons, the production of certain goods takes place in a particular place, state, or country This type of division of labour is called geographical division of labour. 

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Lesson Posted on 02/05/2020 Learn Economics +1 Tuition

FOP ie, Factors Of Production in Economics , for class 11

Disha S.

I am a class 12 Student from Commerce background, just completed giving my ISC exams. Searching for English,...

Factors of Production (FOP) Production of goods & services requires the use of certain resources. For eg : to produce whearc, a farmer needs land, labour, seeds, fertilizer, etc. So in this example land, labour, seeds and fertilizers are the factors of production. Characteristics of FOP: 1.... read more

Factors of Production (FOP) 

Production of goods & services requires the use of certain resources. For eg : to produce whearc, a farmer needs land, labour, seeds, fertilizer, etc. So in this example land, labour, seeds and fertilizers are the factors of production. 

Characteristics of FOP: 

1. Jointly used in the production of a commodity: No single commodity can produce anything. We will have to combine all the factors together to produce something. 

2. Physical Existence: all the four factors of production have a physical existence. They are tangible resources. 

3. Use of factor services: An important characteristic of factors of production is that it is the services of the factors, rather than the factors itself, that contribute to production. 

4. All the factors are not equally mobile: Labour and entrepreneur are mobile factors of production, as they can be transferred from one place to another. On the other hand land is immobile. 

Classification s of FOP : 

1.Land : land is a basic factor of production, because in every type of productive avtity land is needed. It is also a passive factor because it has to be used by labour and entrepreneur, for producing something. 

2. Labour: Labour means all types of human work, physical and mental, done with a view to earn money. 

3. Capital : all man made durable goods, which are used for further production of wealth are included in capital. Capital is a produced means of production. 

4. Organisation : land, labour, and capital are natural, human and material means of production. No production is possible without bringing these factors of production together and using them in right proportions.  

 

 

 

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Lesson Posted on 16/02/2020 Learn Economics

Important question for 11th class economics of 1 marks

Mansi Singh

I think I am a good student as well a good teacher because, I know how to make people understand your...

What is mean by mariginal cost? What do you understand by micro economics? What do you mean by macro economics? What is supply? What is the basic difference in between supply and demand? what is TFC? AND MANY MORE QUESTION FOR DOING GOOD IN YOU FINALS COMMENT FRO THE ANSWERS AND ANY QUERIES... read more
  • What is mean by mariginal cost? 
  • What do you understand by micro economics? 
  • What do you mean by macro economics? 
  • What is supply? 
  • What is the basic difference in between supply and demand? 
  • what is TFC? 

AND MANY MORE QUESTION FOR DOING GOOD IN YOU FINALS COMMENT FRO THE ANSWERS AND ANY QUERIES YOU CAN CALL ME OR COMMENT I AM HERE FOR YOU🙂🙂🙂

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Lesson Posted on 17/09/2019 Learn Economics +1 Class 12

Economics learning made easy

Jayanta Chakraborty

I am an experienced, qualified teacher and tutor with over 5 years of experience in teaching History,Geography,Economics...

I am an educator of economics for 3 years now teaching students from classes 9 to 12.I am currently working in chegg india as a verified expert in Economics and providing solutions to problems related to economics both in India and abroad.But I want you to know that there are no tricks to learn economics... read more

I am an educator of economics for 3 years now teaching students from classes 9 to 12.I am currently working in chegg india as a verified expert in Economics and providing solutions to problems related to economics both in India and abroad.But I want you to know that there are no tricks to learn economics and I'm not someone who can provide you with that kind of knowledge.But, if you are ready to learn and willing to work hard for that matter then and only then I can help you achieve that.My best wishes to all those students who are studying Economics.....May god bless you all

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Lesson Posted on 29/07/2019 Learn Economics

What is the difference between GDP and GNP?

Maroof

GDP is Gross Domestic Product. It is the total value of goods and services produced within the boundaries of a nation in a given time period. E.g. 1 year The value of goods and services produced by both Indian and foreign National are taken into account. GNP is the Gross National Product. Here the... read more

GDP is Gross Domestic Product. It is the total value of goods and services produced within the boundaries of a nation in a given time period. E.g. 1 year

The value of goods and services produced by both Indian and foreign National are taken into account.

GNP is the Gross National Product. Here the difference is the fact that boundary restriction is not there. However, the values produced by Indian national residing anywhere in the world is considered.

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Lesson Posted on 01/07/2019 Learn Economics +2 Class XI-XII Tuition (PUC) Class 11

What is Utility? What are the features of Utility?-HSC,Class 12,Class 11,Microeconomics

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical

What is Utility and what are its features?
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Lesson Posted on 30/06/2019 Learn Economics +1 Class XI-XII Tuition (PUC)

Forms/Types of Utility-HSC/Class 12,Class 11,Economics,Micro-Economics

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical

Different forms/types of Utility
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Lesson Posted on 22/06/2019 Learn Economics

Introduction, Micro Economics

Surya Mohan Gaur

I have teaching experience more than 10 years. A very deep knowledge about the subject everything is...

The basic economics is the study of, and the Economy is a process where people ears their livelihood. Human being has unlimited wants; however, to fulfil those needs resources are limited. So we have to choose short everyone has unlimited wants and income is low so it has to make a choice. That is... read more

The basic economics is the study of, and the Economy is a process where people ears their livelihood.

Human being has unlimited wants; however, to fulfil those needs resources are limited.  So we have to choose short everyone has unlimited wants and income is low so it has to make a choice.  That is with every Economy, and this is known as the central problem of Economy as this problem arises with every Economy.

What to produce, how to build, and for whom to produce.

To solve these problems, PPC was invented.  PPC shows all the best possible combination of two goods that an economy can produce with the given resources and available technology.

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Lesson Posted on 30/05/2019 Learn Economics +2 Commerce Micro and Macro Economics

Forms/Types of Money - Class 12, Macroeconomics, Evolution of Money

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical

Various types/forms of Money
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Lesson Posted on 29/05/2019 Learn Economics +3 Commerce Commerce Micro and Macro Economics

Macro-Economics: Meaning and Scope | What is macroeconomics? | Class 11/Class 12

Rajiv Vadera

I am MBA Finance. I believe in conceptual learning and not just theoretical

Meaning of Macro-Economics
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