Competition among buyers and sellers is a control
Illustrate Competition among buyers and sellers is a controlling mechanism?
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1. Large numbers of sellers mean that no single producer or seller can control the price or market supply.
2. Large number of buyers means that no single consumer or employer can control the price or market demand.
3. Depending upon market situation, manufacturers can enter and leave industry easily.
Describe unexpected deflation?
Writ short note on the income of functional distribution?
Question: Scenario: You have been hired as the economics adviser for the newly elected State Premier. On your first day, the Premier introduces you to the new Minister for Health
surpluses drives price down,shortages drive up
How will the goods and services be produced?
Illustrate the advantage and disadvantage of Corporations?
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How will the system accommodate change?
Write short note on Markets?
Critically evaluate: “In comparing the two equilibrium positions, it note that a larger amount is actually purchased at a higher price. This disprove the law of demand.”
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