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11th Class Chapter No 23 - Some Mathematical Tools Used in Economics in economics for ISC

Various concepts of economics and statistics are expressed in terms of numbers like, demand, supply, price, national income, etc. These economic variables are often related to each other. One way to express the relationship is functions. A function is a relationship amongst two or more variables. In a functional relationship one variable is related to another variable in such a way that, to every value of the one variable (say, X), there is one and only one possible value of the other variable (say, Y). Functional forms refer to the nature of the relationship between variables in the function. 

 

Posted in 11th on July 25 2020 at 12:29 PM

ISC 11th CLASS economics OTHER CHAPTERS

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