Price of Substitute goods
What occurs to the demand for a good whenever the price of Substitute goods downs?Answer: Whenever the price of substitute good downs, then the demand for the specified good too downs.
Give me answer of this question. Money functions as: A) a store of value. B) a unit of account. C) a medium of exchange. D) all of the above.
‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value
Can someone help me in finding out the right answer from the given options. The craft unions historically tried to systematize all the workers in: (1) A specific company, in spite of size. (2) The United States. (3) The specific broad industry. (4) Relatively highly s
The strategies of monopolistic competitors invariably comprise: (1) industrial espionage. (2) predatory pricing. (3) product differentiation. (4) price-fixing. (5) cutthroat competition. I need a good answer on the
What does “buying on margin” means?
Of the given firms, the best illustration of a natural monopoly is: (i) Dell, the largest seller of personal computers. (ii) Toyota, i.e., the huge car company in the world. (iii) OPEC, i.e., the international oil cartel. (iv) Google that dominates th
Critics charge which generous welfare programs have sharply raised the: (w) balance of trade deficit. (x) amount of voluntary poverty. (y) antagonism between economic classes. (z) level of involuntary unemployment. Q : Meaning of term competition in Economic Economists generally use the word “competition” to refer to: (w) negotiations among buyers and sellers. (x) a type of market structure in that competitors are price takers and, occasionally, to rivalrous processes among firms. (y) how pric
Economists generally use the word “competition” to refer to: (w) negotiations among buyers and sellers. (x) a type of market structure in that competitors are price takers and, occasionally, to rivalrous processes among firms. (y) how pric
The most important declines in opportunity costs of multiple goods for the consumers and greatest rises in the value of net production for all societies everywhere tend to be realized whenever production is organized in accord by: (1) The optimal clas
Economies of Scale: ‘Economies’ means benefits. The scale refers to the size of unit. ‘Economies of Scale’ refers to the cost benefits due to
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