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.
Suppose the value of exports of goods of a country is Rs. 1,000 crores and the value of imports of goods is Rs. 1,200 crores, what will be the trade balance (or balance of trade)?
What are the strength and weakness of using per capital national income? give explained answer for query
What do you understand by the term Price (P) at Market in Economy?
Predictions which restricting international trade to protect specific industries and “infant” firms would (a) inefficiently decrease aggregate output and employment, (b) raise the market power of the protected firms and their workers, and
Explain in short the income approach to evaluate national income. Answer: Under income method to compute the National Income, the steps given below have been taken into account: A) First of all production units tha
What do you mean by the term Competitive market?
Whenever the price of a good all along a demand curve is modified since of a change in supply, the substitution effect is the modification in purchases of a good which result from a change merely in: (1) The associative price of that good. (2) Consumer tastes and prio
Describe why businessmen mostly wish to open current account in bank?
How can governments seek to control their national economies through fiscal and monetary policies?
Bank rate: This is the rate at which the central bank loans money to commercial bank.
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