Define Quantity of a good
Quantity of a good: The quantity of a good which buyers demand is found out by the price of the good, income, the prices of associated goods, expectations, tastes, and the number of buyers.
Describe when there will be a shortage of the good?
DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
The usual household maximizes the utility by spending all its money to purchase and consume a combination of goods which yields: (1) Fundamental physiological requirements and customary wants. (2) Maximum status and the social prestige. (3) Complete satisfaction of al
"In corn market, demand often exceeds supply and supply sometimes exceeds demand." "The price of corn rises and falls in response to changes in supply and demand."
In saying that the present system of floating exchange rates is managed we mean that: IMF officials determine exchange rates on a day-to-day basis. countries that allow their exchange rate to move freely will lose their borrowing privileges with the IMF. the value of any IMF member's currency
The market price you pay for each and every particular goods you purchase regularly is probably most closely associated with the last unit of each and every good’s: (1) Marginal utility. (2) Total utility. (3) Producer surplus. (4) Consumer surplus. (5) Economic
What is the alternative name of value added technique of estimating national income? The alternative name of value added technique of estimating national income is production method.
Illustrate which budget expenses does not result in the creation of assets or reduction of liability. Give illustrations too.
Methadone programs for addicts are intended at reducing illegal heroin traffic through: (i) decreasing the heroin supply. (ii) increasing the price of heroin. (iii) decreasing the demand for heroin. (iv) executing drug dealers. Hel
Why the repayment of loan is a capital expenditure? Answer: Repayment of loan is taken as a capital expenditure since it diminishes the liabilities of Government.
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