Explain the meaning of price
Explain the meaning of price.
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Price is the money value of the services and the goods. Conversely, it is the exchange value of a service or product in terms of money. For the seller, price is a source of revenue. For the buyer, it is the sacrifice of purchasing power.
Explain the term business cycle in brief.
In an entirely employed food-and-clothing economy, continual equivalent reductions in food output generally will make it: (1) Essential to decrease clothing output uniformly. (2) Probable to generate successively bigger increases in clothing output. (
Pure economic rents for different parcels of land do not reflect differences within their: (1) marginal productivities. (2) fertility. (3) quantities of valuable minerals and ores. (4) amounts of capital improvements. (5) relative capability to reduce
When the wage rate paid for labor raises, in that case the: (1) supply of labor increases (2) opportunity cost of leisure rises. (3) workers always supply more labor. (4) level of national income increases. (5) opportunity cost of leisure falls.
Write down the features of Marginal costing?
When a cartel member can persuade competitors to keep the cartel price but secretly give a discount price to certain customers, profits will rise: (w) for all members of the cartel. (x) since price cuts are only given to assigned customers. (y) as a result of an incre
Val Alvarado, an accountant, quit his $80,000 year job and bought an existing laundry through its earlier owner, he was Ricky White. The lease has five years stayed and needs a monthly payment of $4,000. Val's explicit cost amounts to $3,000 per month more than his
Illustrates the opinion of Stonier and Hague for explaining Demand in economics?
States the term Shift in Demand?
Illustrates the factors affecting Demand Forecasting?
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