Define cyclical fluctuations
Define cyclical fluctuations?
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Durable goods output is more unstable than non-durables and services because spending on latter usually cannot be postponed.
Why private goods are produced through the market?
Illustrate the characteristics of the Market System?
Industries that are described as "contestable": (w) will experience long-run economic profits equal to zero. (x) are difficult for firms to enter, but not to exit. (y) are difficult for firms to exit, but not to enter. (z) will charge prices greater t
Explain the statement: “Good economic policy requires good economic theory.”?
Explain: “Even though parking meters may yield little or no net revenue, because of the rationing function they perform nevertheless be retained”
Illustrate the supply curve and also determinants of supply?
What is the basic principle of comparative advantage?
Briefly explain the term Price Earnings Ratio (or P/E Ratio)?
To be productively efficient, a country should: (w) maximize the satisfaction attainable from its budget. (x) be concerned only with macroeconomic analysis. (y) concentrate on removing scarcity. (z) maximize the value of output produced through specif
Illustrate Scarcity and choice of Economic Perspective?
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