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 is the role of price in market economies?
In market economies, what are the signals which guide economic decisions?
Write a brief note on plan and non-plan expenditure of the government with illustration. Answer: Plan Expenditure
Explain the statement "Hypothes is the basic short run and long run behaviors of the airline industry in a market economy".
(a) Do you think that macroeconomic policy should be designed to achieve a measured unemployment rate of zero? Why or why not should this be the case?
WHAT ARE THE STRENGTH AND WEAKNESS OF THE THEORY OF FOREIGN DIRECT INVESTMENT
Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.
What points out zero primary deficits? Answer: Zero primary deficits signify that the government has to resort to borrowings simply to make interest payments.
What is the difference between profit and producer surplus?
Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
18,76,764
1951175 Asked
3,689
Active Tutors
1451765
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!