What is Equilibrium
What do you mean by the term Equilibrium? Also state its proper definition.
Expert
Equilibrium:
A) It is the point where supply and demand curves intersect is termed as the market’s equilibrium.
B) Definition of equilibrium: It is a condition in which the price has reached the level where quantity supplied equivalents quantity demanded.
Examples of command economies are: a) the United States and Japan b) Sweden and Norway c) Mexico and Brazil d) Cuba and North Korea
Describe why businessmen mostly wish to open current account in bank?
When cost of a foreign currency increases its supply too increases. Elucidate why?
In the figure shown below, line T1 depicts a tax system which is: (1) Regressive. (2) Progressive. (3) Proportional. (4) Unbiased. (5) Recessive.
Describe when there will be a surplus of the good?
Describe whether the sale of old scooter is comprised in national income?
Define fiscal policy? Answer: Fiscal policy is the revenue and expenditure policy of government with a view to combat the state of inflationary or deflationary gap
An illustration of how marginal utility diminishes takes place when: (1) Derek finds it tough to laugh politely when he hears a “new” joke for the fourth time now. (2) Amy Sue chooses she would instead have 150 hogs than 151 on her pig far
What is the difference among the discount rate, prime rate and the subprime rates of interest? Which interest rate in particular build the 2008 recession? Explain how that happened.
IN which situation, there is a deficit in the balance of trade.
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