01 Business Economics Ch 1 Part 1 By Vrinda Chugh | CA Foundation

01 Business Economics Ch 1 Part 1 By Vrinda Chugh  | CA Foundation

Business Economic For CA Foundation By Vrinda Chugh. Hey Guys, in this video we will discuss the basics of business economics. this video is specifically recorded for CA Foundation students. Business economics is paper number 4 of CA Foundation

#businesseconomics #cafoundation #CA #ICAI #vrindachugh

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20 thoughts on “01 Business Economics Ch 1 Part 1 By Vrinda Chugh | CA Foundation”

  1. Vrinda ji !!!
    You explain sooo… well!!!
    Thank you for this video.

    Adam Smith was considered as the father of economics as he introduced the term economics for the first time in his book " An Inquiry into the Nature and Causes of the Wealth of Nations. "
    According to him, acquisition of wealth was the only objective of mankind.

    This theory was criticized by many later economists through the welfare definition i.e., " Wealth is a means to end but not an end itself. " where 'end' means Wants and 'means' means the Resources.
    Where it explains that wealth should be utilized for the welfare and good of mankind.

    But this was also not correct because tobacco and liquor doesn't do any welfare of the humans but still have demand.
    By this it is clear that tastes and preferences of the people is also important.

    But later on this definition was also criticized by scarcity definition.
    in which it is explained that scarcity of a commodity matters. Gold and diamonds have no value in use but has a great value in exchange. On the other hand water has no value in exchange but one of the most valuables in use.

    Though Adam Smith gave the incorrect definition of economics, he was considered as the father of economics as he started it.

    a silly joke!
    Q: Who is the mother of economics?
    A: Mrs. Adam Smith

    Thank You

  2. Good Evening Sir , I am Suraj Jagtap from pune. I recently completed my 10th std with 87% of marks (CBSE). I want to Become a Chartered Accountant for sure. Can you please guide me with the CA foundation i.e when to register, from when to start studying, how to register, etc.

  3. Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment era.

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