What is substitutes
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
People in whole the world confront the difficulty of scarcity at always because: (i) restricted resources and times preclude producing all the goods people need. (ii) greedy capitalist monopolies charge excessively high prices. (iii) international mar
Reallocation of resources: In case, the market economy fails or does not attain the desired social objectives, the government has to interfere via budget and reallocate resources accordingly. Through its budgetary
What stage of the business cycle is our economy experiencing at present time? proof your answer.
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. Q : What is Equilibrium quantity Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
What do you mean by the term Equilibrium? Also state its proper definition.
Devaluation means decrease in the external value of a country’s currency as an aware policy measure adopted by the Government of a country. In another words, we make our currency less costly in terms of foreign currency. This builds our goods ch
What is the impact on income or output and price of excess demand (Inflationary gap)? Answer: In the condition of excess demand (that is Inflationary gap) there wil
The value of nominal GNP of an economy was Rs. 2,500 crores in a specific year. The value of GNP of that country throughout the same year, computed at the prices of some base year was Rs.3000 crores. Evaluate the value of GNP deflator of the year in terms of percentag
I need a good answer on the topic of Economic problems. Please give me your suggestion for problem which is specified below: Macroeconomics focuses mainly on: (i) inflation, unemployment, economic growth, and other aggregate econom
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