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what is main difference between capital intensive goods and primary products primary product means the major product in which the firm is dealing
what are externalities give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of
what are economies of scale and diseconomies of scale in economics returns to scale and economies of scale are terms that are related and
what is the difference between indifference curve and isoquants an indifference curve shows dissimilar combinations which a consumer can buy with
why concept of elasticity is important in economics elasticity is very important concept in economics because it affects the decision of
why elasticity is important for economic analysis elasticity is a significant concept in understanding the incidence of indirect taxation marginal
how can we identify that something is elastic or inelastic when demand of any commodity does not change with the change in price of that commodity
imagine a country where plane and train services between two main cities are both provided by private companies and from a consumer perspective these
what is affected variable and cause variable in a graph one variable is dependant and the other is independent the dependant variable is known as
what is the difference between scarcity and shortage scarcity and shortage have dissimilar definitions in reality when most of the goods and
what is the difference between concept and assumption these two terms are very dissimilar the term concept refers to an idea or abstract principle
what is the difference between capital and capital value the total amount of money or other resources owned or used to obtain future income or
what is opportunity cost answer opportunity cost is a term used in economics to mean the cost of something in terms of an opportunity
what is the difference between economics and business economics is the study of how we the people engage ourselves in production distribution and
what is the benefit main work of economics in our life economics plays a very important role in development of a country a countrys economy shows
what is economics economics is explained as the study of how people choose to use their scarce resources in an attempt to satisfy their unlimited
what are the differences between the is-lm model and the keynesian model the simple keynesian model is a simplified model to exemplify keyness
what does the is-lm framework mean the is-lm model helps us to understand the two opposing theories the is investmentsaving curve shows
what is high-powered money the high-powered money is the similar as monetary base which is defined at the minimum as the sum of the currency in
what is meant by labor force in economics the labor force is the group of people who have a potential for being employed normally the labor
is it true to say that inflation can only sustain with the increase in money supply inflation can only be sustained if there is a persistent
how the inflation effect on the import and export of the country when general price level enhances in an economy local currency is devalued
what is the difference between price inflation and wage inflation price inflation is the rate of enhance in the prices of goods and services
what is hyper inflation how it can be reduced hyper inflation means that prices of the consumable goods are very high prices can be
what is deflation deflation in economics refers to reduce in the general price level ie the nominal cost of goods and services as well as wages