All that you need to know about Economics
Econtutorials is a hub of articles, notes, lectures, manuals and online courses of Economics that will guide you from its very basic terms to advance methods of solving quantitative problems.
Domains of Economics
Foundation of Economics
Learn the foundation of the subject of Economics
Microeconomics
Understand the functions of the individual entities of an economy
Macreconomics
Understanding the economy as a whole
Statistics
Learn the exact topics of statistics required for economic understanding
Econometrics
The amalgamation of Economics, statistics and mathematics
Online Courses
Enroll in our online courses for detailed learning.
Consumer Choice: Marginal Rate of Substitution
The shapes of indifference curves describe how a consumer is willing to substitute one good for another In the Graph above: A to B, gives 6 clothing to get 1 food D to E, gives 2 clothing to get 1 food The more clothing and less food a person has, so the more clothing...
Consumer Choice: Indifference Maps and characteristics
This article includes the objectives of explaining Indifference curve characteristics. In our last article, we defined and graphically explained the concept of the indifference curve. Downward or upward indifference curve? The Indifference curves slope downward to...
Consumer Choice: Indifference Curve
We discussed consumer choice/preference in our previous article where we talked about how consumer preference can be represented graphically using indifference curves. This article will provide all the details related to an Indifference curve that explains the...