Questions

Opportunity cost is the cost of other alternative choices for making your interested choice of work. Oppurtunity cost is also called as alternative cost.

For example on a holiday, you have two choices to do, either you can go to movie or a function. And if you chose to go to moavie, the oppurtunity cost of going to movie is the value that would have gotten if you had gone to function.

The law of increasing opportunity costs states that as you increase production of one good, the opportunity cost to produce an additional good will increase.

Government imposes taxes to run the machinery of the state. Taxes serve as the main source of income for the government revenue.

Bhopal mayor Alok Sharma provision to build a cow crematorium in the Madhya Pradesh capital city Bhopal.

The scarcity definition of economics is credited to Lionel Robbins.

Crop Rotation is the practice of growing a series of dissimilar or different types of crops in the same area in sequenced seasons. It is done so that the soil of farms is not used for only one set of nutrients. It helps in reducing soil erosion and increases soil fertility and crop yield. The British agriculturist Charles Townshend (1674–1738) popularised this revolutionary technique in the 18th century.