Learn Economics Easily. In this lecture you will understand the Basic Economic Problems any country in the world might face when it undertakes economic decisions. Furthermore i have also dealt with Constraint optimization and the concept of Opportunity Cost. To provide the base for optimization and opportunity cost i have also Provided general explanation on scarcity and Alternative uses of resources.


This course is intended for BA, BCom, BSc, BBA, BBA-IB, BBA-CA, MBA-Basics, and also to the MA and MSc programmes in Economics.This course can also be used as a reference by students studying at the intermediate levels or A-levels. Some of the sections are especially intenteded for Graduate and Post-Graduate Level Advance courses and i will inform well in advance about the same. Hope you like our efforts.


What are Basic economic problems?
1. What to Produce.
2. How to produce.
3.For whom to produce.
4. Fuller utilization of resources.


What do you mean by Scarcity?
The scarcity of resorces means the limited availability of the resource. It can not be created and hence is limited by its supply. eg: Area of Land in Indian subcontinent.



What does alternative Uses mean ?
Alternative uses means a resource can have more than one use. eg. land can be used for various purposes namely agriculture, industry, construction etc.


What do you mean by Constraint Optimization?
this means that an individual has to make sure he uses the limited available resource to the optimum level possible. eg. Money Income acts as a constraint.



Define Opportunity Cost ?
It is defined as the cost incurred by an indicidual when the next best alternative is forgone. it is also called as the opportunity lost.





We will also be uploading video series on:
1. Macroeconomics
2. International Economics
3. Economics of Growth and Development
4. Indian Constitution
5. Physical Geography
6. Environmental Sciences
7. Behavioural Economics


If you like our effort and if you have any suggestions please feel free to write to us @
asymptote.classes@gmail.com

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