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.
What is the impact on income or output and price of excess demand (Inflationary gap)? Answer: In the condition of excess demand (that is Inflationary gap) there wil
What are the Steps to analyze modifications in equilibrium?
Assume that the launch of Microsoft Xbox 360 moved the demand curve for Sony PlayStation 2 games from D0 to D1 throughout similar period if new game designers enter into this market and hence supplies of PlayStation 2 games shifted S0 to S1. The market equilibrium: (1
The direct economic resources a farmer employs to generate avocadoes would not comprise: (I) human capital in form of expertise regarding growing avocadoes. (II) fertile land. (III) loans from a bank to finance SUCH year’s crop. (IV) machinery,
Implications of fiscal deficit: (A) High fiscal deficit entails a big amount of borrowings in which the government takes more loans to pay back it. It raises the liability of government. Q : Change in real income when price fall I I have a problem in economics on Change in real income when price fall. Please help me in the following question. When gas prices drop from $2.65 to $2.45, the biggest change in real income is realized by: (1) Harry Hustler who drives his 1995 Lincoln 200,000 miles/ye
I have a problem in economics on Change in real income when price fall. Please help me in the following question. When gas prices drop from $2.65 to $2.45, the biggest change in real income is realized by: (1) Harry Hustler who drives his 1995 Lincoln 200,000 miles/ye
The balance of trade demonstrates a deficit of Rs 300 crore. The values of exports are Rs 500 crore. Determine the value of imports? Answer: Q : What is Supply schedule What is Supply What is Supply schedule and how it is related to supply curve?
What is Supply schedule and how it is related to supply curve?
1) How can governments seek to control their national economies through fiscal and monetary policies?2) What are the causes of the fiscal deficits experienced by many developed nations in the past three years and what are the main effects
I have a problem in economics on Expanding consumption of a good. Please help me in the following question. Your consumption of a good tends to expand if it’s: (i) Relative marginal utility surpasses its relative price. (ii) Total utility is les
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