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 will purchase goods when their demand prices equivalent or surpass: (i) Transaction costs. (ii) Subjective prices. (iii) Price indexes. (iv) Market prices. (v) Wholesale prices. Please someone suggest me the right answer.
Definition of shortage: It is a condition in which quantity demanded is more than the quantity supplied. The sellers will respond to the shortage by increasing the price of the good till the market reaches the equi
Why are receipts from taxes classified as revenue receipts? Answer: Receipts from taxes are classified as revenue receipts since they do not build liabilities nor r
I have a problem in an assignment which involves analyzing interest rates, the CPI(consumer price index) and wage rates as they impact the automotive and gaming (with an emphasis on casinos) industries. Analyze these indicators and prepare a 3-4 page report explaining
Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
What is Demand schedule and how it is associated to demand curve?
How does an internally held public debt differ from an externally held public debt?
a restrictive monetary policy is designed to shift the
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 have a problem in economics on Change in real income when price fall. Please help me in the following question. When gas prices drop from $2.65 to $2.45, the biggest change in real income is realized by: (1) Harry Hustler who drives his 1995 Lincoln 200,000 miles/ye
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