How prices allocate resources
How prices allocate resources?
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A) The model of supply and demand is an influential tool for analyzing the market.
B) Supply and demand altogether finds out the price of the economy’s services and goods.
In this figure shown below, the price elasticity of demand for DVD games among prices of $30 and $40 is nearest to: (i) 7/6. (ii) 1/2. (iii) 3/7. (iv) 7/3. (v) 1/3. Q : Define Tax revenue Tax revenue : Tax Tax revenue: Tax revenue is the revenue which occurs on account of taxes levied by government. Taxes are of two kinds: direct taxes and indirect taxes. Direct taxes are such taxes levied instantly on the property and income of person’s income ta
Tax revenue: Tax revenue is the revenue which occurs on account of taxes levied by government. Taxes are of two kinds: direct taxes and indirect taxes. Direct taxes are such taxes levied instantly on the property and income of person’s income ta
Describe cost-push inflation and its major source.
How will you treat the given in estimating rational income of India? Provide reasons for your answer. (i) The value of bonus shares received by the shareholders of a company.(ii) Interest received on loan pro
When speculators are right, their actions: (1) Cause already depressed prices to drop/fall further. (2) Raise the risks to another firm of doing business. (3) Prevent price refuses from their peaks. (4) Reduce both the phase of prices and their volatility across time.
What are the components of aggregate demand (AD)? Answer: The components of AD are as follows:AD = C + I + G + (X - M) By Simplifying AD = C + I, Here C refers to Household consumption demand and I refer
If the liability to give a tax is on one person and the burden of tax fall on some other person, state the kind of tax? Answer: These are indirect taxes like sales
A country’s balance of trade is Rs. 75 crores. The value of imports of goods is Rs. 100 crores. What is the value of exports of goods?
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
Give a short history of how banking evolved into the sophisticated operation. Start first with the Goldsmith and sum up with the Banking system which we experience nowadays.
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