FOR NET COMMERCE/MANGEMENT/
ECONOMICS
ECONOMIC STATICS
1. STATICS AND
DYNAMICS ARE DERIVED FROM THE GREEK WORDS
2. STATIKOS
MEANS “ CAUSING TO STAND”
3. DYNAMIKOS
MEANING :- CAUSING TO CHANGE
4. ORIGINALLY
THESE CONCEPTS WERE USED IN PHYSICAL SCIENCE
5. AUGUTS COMTE
( 1798-1857) A THEORETICAL PHYSCIST USED THESE CONCEPTS IN SOCIAL SCIENCE.
6. THE USAGE HAS
BEEN PROPOUNDED BY J.S MILL IN ECONOMICS
•
ECONOMICS STATICS
1. THE TERM
STATICS HAS DIFFERENT MEANING IN MECHANICS AND ECONOMICS
2. MECHANICS IT
IMPLIES STATE OF REST IN WHICH THERE IS NO MOTION
3. A BOOK LYING
ON THE TABLE IS A GOOD EXAMPLE
4. IN ECONOMICS
IT IMPLIES A STATE IN WHICH THE ECONOMIC ACTIVITY IS
CONTINUOUS.REGULAR,DEFINITE AND SMOOTH
5. ALL THE
ACTIVITIES GO WITHOUT ANY FLUCTUATIONS
6.
ECONOMICS STATICS
7. CONCERNED
SOLELY WITH THE EQQUILIBRIUM VALUES OF
THE VARIABLE OF INTEREST IN THE SPECIFIED TIME PERIOD
8. ACCORDING TO
PIGOU” JUST AS THE DROPS OF WATER THAT FORM A STREAM ARE ALWAYS CHANGING BUT
ITS FORM REMAINS THE SAME SO DO,IN STATISTIC STATE,THE FACTORS CHANGE BUT THEY
ARE NOT OF ANY CONSEQUENCES.
•
CLARK MAINTAIN :
1. THE SIZE OF
THE POPULATION
2. THE SUPPLY OF
THE CAPITAL
3. METHODS OF
PRODUCTION
4. FORM OF
BUSINESS ORGANIZATION
5. WANTS OF THE
PEOPLE
CCONSTANT
•
ECONOMICS STATICS
1. BUT THE
ECONOMY,CONTINUES TO WORK AT A STEADY PACE
2. ACCORDING TO
SCHUMPETER:-AN ECONOMIC PROCESS THAT MERLEY REPRODUCES ITSELF
3. REFER TO THAT
TYPE OF ECONOMIC ANALYSIS IN WHICH THE TIME ELEMENTS DOES NOT ENTER AS A
VARIABLE
4. ALL VARIABLE
IN THIS TYPES OF ECONOMIC ANALYSIS RELATE OT THE SAME PERIOD OF TIME
5. THOEY OF
PRODUCT PRICING IS A GOOD EXAMPLE FOR STATIC ANALYSIS
•
PRODUCT PRIICNG IN PERFECT COMPETITION
•
D
•
COMPARATIVE STATISTICS
1. METHOD OF
COMPARING OF TWO EQUILIBRIUM POSITIONS
2. WE ANALYSE
AND COMPARE THE ORIGINAL EQULIBRIUM POSITIONS AND THE NEW EQUILIBIRIUM POSITION
3. JUST
COMPARING TWO STILL PICTURES
4. ADJUSTMENT
FROM ONE EQUILIBIRIUM IS NOT STUDIED
•
COMPARATIVE STATISTICS
•
•
ECONOMIC DYNAMICS
1. IMPLIES THAT
PART OF ANALYSIS WHICH CONSIDERS THE RELATIONSHIP AMONG VARIABLES WHOSE VALUE
BELONG TO DIFFERENT POINTS OF TIME
2. PROF. HICKS,”
ECONOMIC DYNAMICS REFERS TO THOSE PARTS WHERE EVERY QUANITY MUST BE DATED
3. DYNAMICS THE
TIME ELEMENTS ENTER EXPLICITLY IN ONE FORM OR THE OTHER
4. SOME
VARIABLES OF THE RELATIONSHIP OF THIS TYPE OF ECONOMICS WILL BELONG TO
DIFFERENT TIME PERIOD EITHER WITH LAG OR LEAD
5. CURRENT
SUPPLY OF A COMMODITY IN THE MARKET MAY BE RELATED TO ITS PRICE IN THE PREVIOUS
PRICE OR PERIOD WHEN WE USE SUCH A RELATIONSHIP TOGETHER WITH THE DEMAND FOR
THE COMMODITY TO DETERMINE ITS CURRENT PRICE THEN IT WILL BE DYNAMIC PRICE
•
MORE REALISTIC BECAUSE:
1. CONSTANT
TASTE,PREFERENCE
2. FASHION AND
TECHNOLOGY
3. PERFECT
MOBILTY
•
COMPARISON
•
ECONOMIC STATISTIC
1. ALL ECONOMIC
VARIABLE RELATE TO THE SAME POINT OF TIME
2. TRANSTITION
FROM ONE EQUILIBIRIUM POSITION TO ANOTHER
3. BASED ON THER
THINGS REMAINING THE SAME
4. BASED ON
DEDUCTIVE ANALYSIS
•
ECONOMIC DYNAMIC
1.
ALL VARIABLE ARE FUNCTION OF TIME
2.
EXPLAIN THE PATH OF EQUILIBRIUM
3.
DEALS WITH ECONOMIC VARIABLE SUSCEPTIBLE TO CHANGE
4.
INDUCTIVE
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