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Problem:
i) What might be the possible causes of inflation according to economic theory?
ii) Taking stable prices and full employment as two macroeconomic objectives of government, critically write on how fiscal and monetary policies could be used to achieve them.
iii) What factors are likely to affect the size of the price elasticity of demand?
iv) A publicly owned bus line is running at a loss. How can knowledge on the elasticity of demand for bus rides help in this situation?
What is consumer surplus? What is its significance and what causes it to change?
What are subsidies? Almost in all market systems, government plays its role to stabilize the price of certain commodities, which are of public interest like medicines and edib
Monopsony is single buyer of a commodity in the market. The MRP slopes downward in an imperfectly competitive (resource) market serving an not perfectly competitive product mar
Measures used to restrict International Trade: These are taxes imposed on traded commodities as they cross national boarders. These are two main types of tariffs. An import ta
Problem : (a) With reference to the characteristics of market structure, explain why the market for powdered milk in Mauritius is an appropriate example of monopolistic compet
why men and womens indifference curves are different
importance of monopolistc competition in Indian market.
Time is a significant determinant of price elasticity. If a price changes, it might take consumers a certain amount of time to discover alternative lifestyles or commodities to ac
defination,characters,examples,graphs,share,effort
Policy Implications: The expansion of the services sector has wider implications for population, employment, and trade prospects of the economy, some of which are as follows:
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