What are the determinants of demand
What are the determinants of demand?
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The fundamental determinant of demand is the price of the commodity under consideration: a change in price causes movement along the commodity’s demand curve. This movement is called a change in quantity demanded. Decline price leads to association down the demand curve: There is an increase in quantity demanded. Increased price leads to movement up the demand curve: There is a decrease in quantity demanded.
Explain the impact of external costs and external benefits on resource allocation
Payments for the use of land, capital and labor are respectively termed as: (w) rent, wages and profits. (x) rent, interest and wages. (y) dues, profits and depreciation. (z) fruit, profits and money. Q : Which type of maximization required in Productive (technical) efficiency needs maximization of the: (i) opportunity cost of a specified value of output. (ii) resources used to produce a specified value of output. (iii) value of output produced for a given total cost. (iv) satisfaction atta
Productive (technical) efficiency needs maximization of the: (i) opportunity cost of a specified value of output. (ii) resources used to produce a specified value of output. (iii) value of output produced for a given total cost. (iv) satisfaction atta
Which of the given is the best illustration of a perfectly competitive industry: w) wheat production. x) steel production. y) electricity production. z) airplane production. Hey friends please give your opinion for
Illustrate the 6 basic supply determinants of other than price?
A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000. The cost of each good is $10. Calculate the firm's short-run profit or loss. w) loss of $6,000. x) profit of $6,000. y profit of $30,000. z) There is insufficient
The key model underpinning David Hume’s price-specie flow mechanism which most mercantilists failed to grasp is termed today as: (i) the equimarginal principle. (ii) the wages-fund doctrine. (iii) the quantity theory of money. (iv) partial equil
Growth is a significant economic goal. Explain?
Why businesses are not really “free” to produce what they wish?
When no one can gain unless someone else loses, in that case current arrangements are: (w) economically efficient. (x) not optimal. (y) inequitable. (z) the best cure for scarcity. Can someone explain/help me with best solution abo
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