Monthly Archive:: June 2008

Opportunity Cost

Many see the concept of opportunity cost as one of the very few profound “eternal truths of economics,” which is a result of the universal nature of scarcity as the central economic problem. Opportunity cost is a term used in economics, to mean the cost of something in terms of an opportunity forgone (and

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Scarcity

All the natural resources are not abundant. This term ‘Not abundant’ is called ‘scarcity’ in the terminology of economics that simply refers to limited supply of specific kind of natural resource. Scarcity or limited supply configures a natural resource as an economic resource.  So more specifically, Scarcity means not having sufficient resources to produce

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Resource

Production involves bringing together certain inputs – called factors of production or resources- to create goods and services i.e., the output. Resources are the ingredients necessary for producing goods and services, just as you cannot bake a cake without ingredients of flour, eggs, sugar, and so on. It is these resources that are scare

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Website Review: OntoreBangladesh

OntoreBangladesh is a information based web portal related to Bangladesh. Since 2002, OntoreBangladesh providing information related Bangladesh and the people of Bangladesh. MagicWorks Bangladesh is the official web developer company and Deshiserv Online is the official web hosting company of OntoreBangladesh. This web portal has several features like News, Business, Gallery, Cricket, Music, IT,

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