What do you mean by inflation
Expert
Inflation is a rising general level of prices (not all prices rise at the same rate, and some may fall). To measure inflation, subtract last year’s price index from this year’s price index and divide by last year’s index; then multiply by 100 to express as a percentage. “Rule of 70” permits quick calculation of the time it takes the price level to double: Divide 70 by the percentage rate of inflation and the result is the approximate number of years for the price level to double. If the inflation rate is 10 percent, then it will take about ten years for prices to double.
Illustrate the supply curve and also determinants of supply?
If the price of a good is given, how does a consumer choose/decide as to how much of that good to purchase?
The expected losses to workers by shirking are increased while a firm adopts a policy of: (1) dividing productive tasks therefore the division of labor is optimal. (2) paying efficiency wages that exceed market-clearing wages. (3) avoiding legal liability from not wri
Write down the common factors influencing capital structure?
“The legal form an enterprise assumes is dictated primarily by the financial requirements of its particular line of production.” Do you agree?
Illustrate the advantage and disadvantage of Sole proprietorship?
Briefly explain how the competitive market economy will make the needed adjustments to reestablish an efficient allocation of society’s scarce resources?
Both individual sellers and buyers within perfect competition: w) can affect the market price through their own individual actions. x) can affect the market price by joining along with some of their competitors. y) have to take the market price as a specified. z
What do you mean by Graphs?
The theory of pricing for particular goods explained in Adam Smith’s Wealth of Nations is most consistent along with: (1) mercantilist doctrine. (2) Richard Cantillon’s distinction between “value in
18,76,764
1932101 Asked
3,689
Active Tutors
1453906
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!