Basic Concepts of Economics
ICSE · Class 9 · Economics
All formulas from Basic Concepts of Economics in ICSE Class 9 Economics. Key equations, constants, and identities for board exam preparation.
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Formulas
Human Wants
want = desire for a commodity + effort to acquire it
Utility
mu = TU_{n+1} - TU_n
TU_x = F(N_x)
TU_x = MU_1 + MU_2 + ... + MU_n = Σ_{x=0}^{n} MU_x
TU = ΣMU_x
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