Definition of surplus
Definition of surplus: It is a condition in which quantity supplied is more than quantity demanded. To remove the surplus, producers will minimize the price till the market reaches to equilibrium.
Definition of surplus: It is a condition in which quantity supplied is more than quantity demanded.
To remove the surplus, producers will minimize the price till the market reaches to equilibrium.
How does a commercial bank make money? Answer: Commercial banks are capable to make credit that is many times greater than deposits received by banks. Money creatio
A family’s newly constructed home can produce the service of shelter across several years, therefore from a macroeconomic perspective, this is most reasonably classified as: (i) economic capital. (ii) social infrastructure. (iii) market capitalization. (iv) a fi
Why the value of MPC is not greater than 1? Answer: This is because change in consumption can never be more than change in income.
What is the basic difference between Market Supply and Individual Supply?
The origin of economic growth can be traced back to Adam Smith's Wealth of Nations. InSmith's view, economic growth of a nation depends on the 'division of labour' and specialization, and is limited by the limits of div
What are the limitations of using GDP as an index of welfare of a country?A) The N.I. figures provide no indication of the population, skill and resource of the country. Thus the levels of welfare stay low.B) A higher N.I. migh
how to calculate national income under value added method
In poor countries people spend a big percentage of their income so that APC and MPC are high. Yet, the value of multiplier is low. Explain why?
Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
In calculating the GDP national income accountants:
18,76,764
1947349 Asked
3,689
Active Tutors
1455993
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!