Differences between Economics terms of Class 11 – Business Economics

To understand the meaning of any term you also need the thing not included in the meaning of that term. So, knowing the difference between two terms will clarify the meaning of both terms. With the help of the Differences between Economics terms of the Class 11 chapter, you will understand the meaning of various terms of Economics for class 11.

Differences between Economics terms of Class 11 – Business Economics

We have covered all of the Differences between Economics terms of Class 11 which will help you to clear your doubts about various topics. So please read the all differences one by one.

Difference between Economics and Managerial Economics

Difference between Micro Economics and Macro Economics

Difference between Total Utility and Marginal Utility

Difference between Demand and Supply

Difference between Individual Demand and Market Demand

Difference between Normal Goods and Inferior Goods

Difference between Substitute and Complementary goods

Difference between Price Elasticity and Income Elasticity

Difference between Individual Supply and Market Supply

Difference between Positive and Normative Economics

Difference between Budget Line and Budget Set

Difference between Utility Analysis and Indifference Curve Analysis

Difference between Short Run and Long Run Production Function

Difference between Explicit Cost and Implicit Cost

Difference between Fixed Cost and Variable Cost

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Difference between Total Cost and Total Revenue

Difference between Accounting and Economic Profit

Difference between Perfect Competition and Monopoly

Difference between Monopoly and Monopolistic Competition

Difference between Perfect and Monopolistic Competition

Difference between Collusive and Non-collusive Oligopoly

Difference between Consumer Goods and Capital Goods

Difference between Final Goods and Intermediate Goods

Difference between Fixed Investment and Inventory Investment

Difference between Gross Investment and Net investment

Difference between Expected and Unexpected Obsolescence

Difference between depreciation and capital loss

Difference between Stock and Flow

Difference between Normal Residents and Non Residents of India