Define legal tender money
Legal tender money: Money which is declared legally as the medium of exchange by government is termed as legal tender money.
The Department of the Census explains low relative income as experienced while families: (w) lack sufficient income to buy the fundamental food clothing and shelter required for survival. (x) would like to improve the
For economists, the term "utility" signifies: 1) versatility and flexibility 2) rationality 3) pleasure and satisfaction 4) purposefulness.
For a monopolist to raise the quantity of its products sold needs the monopolist to as: (i) raise the price of its product. (ii) charge a constant price. (iii) invest heavily in a distribution network. (iv) lower the price of its product. (v) advertis
Compared to the output and price which are allocatively efficient by the vantage point of society, in that case a monopolist tends to: (w) produce less and charge a higher price. (x) maximize average profits when possible. (y) set price in the inelast
Can someone help me in finding out the precise answer from the given options that when a fixed level of national income becomes appreciably less evenly distributed as the numbers of relatively poor people and relatively prosperous people both raise dr
Assume that the banker is employed at an annual salary of $60,000. She as well has financial assets worth of $40,000 which earns $1,500 per year in interest. She too owns a commercial building that she rents out for $20,000 per year. Now assume that she quits this job
The law of supply is graphically exhibited by the supply curve which is: (1) Moving all along the demand curve. (2) Vertical. (3) Upward-sloping. (4) Downward-sloping. Can someone please help me in finding out the
Diseconomies of Scale: The diseconomies are the drawbacks occurring to a firm or a group of firms due to big scale production.Internal Diseco
During the long run, the labor supply curve facing a main industry: (w) will always be positively associated to the wage rate. (x) will slope upward only when individual labor supply curves slope upward. (y) can be backward bending at very high wage r
Elucidate the Primary functions of money. Answer: Primary functions: 1) Medium of Exc
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