## There once was a girl from Nantucket – Full Poem & Jokes

Nantucket is a city in the USA and since the word rhymes with the majority of other words. That is why there are many limericks are based upon this word. Limericks were very famous back in the 19th century. There was once a girl from Nantucket who is also one of those famous limericks. limericks…

## There Once was a Man From Nantucket

We all are familiar with this famous song. Are you interested in knowing where it all began? Let us have a look and discuss this very famous limerick “there once was a man from Nantucket”. The very initial series of the four-limerick mentioned below appeared in the June 14, 1924 edition of a Nantucket newspaper….

## Law of Demand, Assumptions, Schedule, Example & Exceptions

Law of Demand, Assumptions, Schedule, Example & Exceptions. To clearly understand the law of demand, we must first know what demand is. So, we will first explain the meaning of demand, then we will move towards the law of demand definition, assumptions of the law of demand, the exception to the law of demand, demand…

## Law of supply Definition, schedule, example and supply curve

So, Before starting to understand the law of supply, it is essential to understand what supply is. Definition of Supply Supply can be defined as “the quantity of goods or services offered for sale at a certain price”. Simply, supply is the relationship between prices of the product and quantity supplied of that product. The…

## Law of Variable Proportion, and Returns to Scale with diagram

Definition of the Law of Variable Proportion: The Law of variable proportion has great importance and applicability in the field of economics. According to this law ‘with the increment in the units of variable factors i.e., labor or capital, and the fixed factor being constant, the marginal product first tends to increase, becomes constant and…

## Income Elasticity of Demand-its Types and Significance

Income elasticity of demand is the change in quantity demanded brought by the change in income of the consumer. So, income elasticity of demand can be properly defined as “The degree of responsiveness of the quantity demanded to a change in income of the consumer, other things being constant.” This is is one of the…