Definition of shortage
Definition of shortage: It is a condition in which quantity demanded is more than the quantity supplied. The sellers will respond to the shortage by increasing the price of the good till the market reaches the equilibrium.
Definition of shortage: It is a condition in which quantity demanded is more than the quantity supplied.
The sellers will respond to the shortage by increasing the price of the good till the market reaches the equilibrium.
What do you mean by the term Competitive market?
The least apparent illustration of how decisions are generally ‘at the margin’ would be: (i) Purchasing an additional novel after learning that all paper-backs at Borders are on sale for 25 percent off. (ii) Tossing a 6-year old cousin to the deep end of t
What are the strength and weakness of using per capital national income? give explained answer for query
Firms which serve customers who vision the firm’s output as perfectly substitutable for the outcomes of huge numbers of other firms confront: (i) Horizontal (that is, perfectly price elastic) demand curves. (ii) Predatory pricing from greater mo
Describe any two measures by which a Central Bank can attempt to decrease the gap. Answer: Central bank can decrease this gap by adopting two measures illustrated b
The illustration of arbitrage takes place when: (1) Enterprising students purchase used textbooks much cheaply on E-Bay and sell them to another students at lower prices than bookstore charges. (2) Ivan purchases a stock when it is cheap and sells it
Redistribution of Income: Each and every economy strives to achieve a society, where inequality of income and wealth must be minimum. In order to attain this objective via government budget the government spends adequate money on social security schem
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.
Define bank rate policy? How does it operate as a technique of credit control? Answer: Bank rate is the rate at which the central bank provides loans to the commerc
‘The country is at present in recession and this has led to worse tax revenue and high expenses. The effect is a huge deficit. The government decides to increase taxes and lower government expenses. Is this an excellent idea?’
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