Role of price in market economies
What is the role of price in market economies?
Expert
Prices play a very important role in market economies since they bring markets into equilibrium. When the price is distinct from its equilibrium level, the quantity supplied and quantity demanded are not equivalent. The resultant surplus or scarcity leads suppliers to adjust the price till equilibrium is restored. The prices therefore serve as signals which guide economic decisions and assign scarce resources.
The balance of trade demonstrates a deficit of Rs 300 crore. The values of exports are Rs 500 crore. Determine the value of imports? Answer: Q : Drawback in illustration of Illustrations of macroeconomic aggregates would NOT consist of the: (1) tax responsibilities of a family. (2) unemployment rate. (3) level of national income. (4) supply of money. (5) rate of inflation. Can someone
Illustrations of macroeconomic aggregates would NOT consist of the: (1) tax responsibilities of a family. (2) unemployment rate. (3) level of national income. (4) supply of money. (5) rate of inflation. Can someone
Can someone help me in finding out the right answer from the given options. The consumer maximizes utility whenever the spending patterns cause: (1) Marginal utility of each and every good to be at its maximum value. (2) Marginal utilities of each and every goods cons
How does the FED utilize the bond market to make and destroy money? Which technique do developed countries utilize to decrease the chance of experiencing inflation? What about the Banana Republicans and inflation, do they have this means acessible to
Which of the following lists includes only capital resources (and ther Which of the following lists includes only capital resources (and therefore no labor or land resources)?
Macroeconomics is mainly concerned along with all things as the: (i) decisions individuals and firms make while prices change. (ii) resource usage and technology bases of firms. (iii) levels of national employment and income. (iv) movements within the
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
Explain the concept of “economies of scale” and “increasing returns”.
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
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. Discover Q & A Leading Solution Library Avail More Than 1434929 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1960752 Asked 3,689 Active Tutors 1434929 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1960752 Asked
3,689
Active Tutors
1434929
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!