In society, moral ideas, knowledge and modes of behavior are transferred from one generation to another through the medium of institution. This helps younger generation in the solution of the problems confronting it.
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Some of the major reasons for this behavior of the demand curve, that is, of the normal law of demand, are listed below. One of the causes of downward sloping demand curve is provided by the law of diminishing marginal utility. We know that when a consumer buys additional units of a good, its marginal […]
If not well planned and controlled, tourism may generate negative impacts or reduce the feasibility of multiplier effect on local economy. Let us briefly look at some of these.