LAND UTILIZATION Land is a scarce resource, whose supply is fixed for all practical purposes. At the same time, the demand for land for various competing purposes is continuously increasing with the increase in human population and economic growth.Land use pattern at any given time is determined by several factors including size of human and livestock population, the demand pattern, the technology in use, the cultural traditions, the location and capability of land, institutional factors like ownership pattern and rights scale regulation. Major Types of Land Utilization in India : As in all other countries, land in India is put to various uses. The utilization of land depends upon physical factors like topography, soil and climate as well as upon human factors such as the density of population, duration of occupation of the area,land tenure and technical levels of the people.There are spatial and temporal difference in land utilization due to the continued interplay of phys...
Indifference curve
Definition : Indifference curve ia a diagrammatic presentation of an indifference set of a consumer. It is a locus of all such point which show different combinations of two commodities yielding same level of satisfaction to consumer. Each point on indifference curve indicates one combination of two goods . Each combination yields the same level of satisfaction.
Indifference schedule
It is a table representing the various combinations of goods which give equal satisfaction to the consumer.
Combinations. Cups of tea Biscuits
A. 1. 50
B. 2. 38
C. 3. 28
D. 4. 21
E. 5. 17
F. 6. 15
{Note : you can plot these into graph for IC}
In this schedule, the consumer is to be purchasing combinations of tea and biscuits. Combination A tells us that he has one cup of tea and 50 biscuits ,while combination B tells us that he has two cups of tea and 38 biscuits .The consumer is indifferent between these combinations since they give him same level of satisfaction. Similar is the case with other combinations. The consumer is indifferent among these combinations .
Indifference curve
Indifference curve is a diagrammatic presentation of an indifference set of consumer. It is a locus of all such points which show different combinations of two commodities. Yielding the same level of satisfaction. Each point on the indifference curve shows one combination of two goods.
In successive combinations the amount of biscuits goes on diminishing as we move from left side of indifference curve to the right side, the increase in the quantity of cups of tea is sufficient to compensate him for loss of biscuits so that consumer is indiferent among them.
Indifference map
The set of indifference curve representing different level of satisfaction obtainable from different schedule of indifference curve is called an indifference map . It is the geometrical expression of number of indifference schedules .Higher the level of indifference Curve higher will be the satisfaction to the consumer.
Properties of indifference curve
a)Higher the indifference curve , greater will be the satisfaction to the consumer.
b)It slopes from left downward to right i.e negative slope.He must gave up some amount of commodity B to gain more amount of commodity A.
c)It can never intersect so that only one IC can pass through any one point in the indifference map.
d)IC is convex to the origin because of diminishing marginal utility and negative slope of IC.
e)IC need not to be parallel to each other .
f)IC curve don't touch the horizontal and vertical axis
g)Straight IC show that two goods being shown on two axis are perfect substitutes.
hlRight angles IC shows that two goods being shown on two axis are perffect complements.
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