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when you drop by the only coffee shop in your neighbourhood you notice that the price of a cup of coffee has enhanced considerably since last
international economic relations also vary in large measure on monetary issues you are unlikely to accept the turkish lire in payment for your
fiat money is not a new idea some european historians recognize the first use of fiat money in europe resulting from gold and silver smiths
fiat money is what is regular in modern economic systems fiat money is money that is described as legal tender by either a government or some
discuss the implications of various market structurescompetitive and non-competitivefor price
what is the explanation for sac to be tangent to lacin other words why must both be tangent to each
the functions of money include 1 medium of exchange 2 store of value and 3 a calculate of worth due to money is acceptable as a
money facilitates market activities and is essential in complex market systems with money people can avoid the problems associated with
international economic relations also depend in large calculate on monetary issues you are unlikely to accept the turkish lire in payment for
the circular flow diagram is used to represent the interdependence that exists between sectors of the economy the diagram illustrates that there
extracellular digestion is that in which food breaking into utile molecules that can be internalized by the cell is completed in the extracellular
normal 0 false false false en-in x-none x-none microsoftinternetexplorer4
the plant cell when placed under hypertonic medium loses a great quantity of water and its cell membrane detaches from the cell wall in that
normal 0 false false false en-in x-none x-none microsoftinternetexplorer4 the demand schedule can be expressed as a
a market is nothing more or less than the locus of exchange it is not of necessity a place but easily buyers and sellers coming together for
movements of the demand curve itself either to the left or right are known as changes in demand a change in demand is caused by a change in one
the law of supply is that producers will supply more the higher the price of the commodity the supply curve is an upward sloping function showing
if producers expect future prices to enhance current supply will decline in favor of selling inventories at higher prices later in other words
market equilibrium happens where supply equals demand supply curve intersects demand curve an equilibrium implies that there is no force that
implicit in these analyses is the fact that without government we could have neither shortage nor surplus in large calculates the suspicion of
if a minimum wage were imposed below the competitive equilibrium what would we expect to observe in the effected labor
the price elasticity of demand is how economists calculate the responsiveness of consumers to alters in prices for a commodity in other words as
the elasticity coefficient is a number measured using price and quantity data to verify how responsive consumers are to changes in the price of a
all other things equivalent the higher the proportion of income spent for the commodity more price elastic will be the demand most home