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This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children in a study of the demand for types. In fact it involves distinguish between the total market demand and market segments. Such segments may be derived in terms of income social status sex age male female ration urban rural ration educational level geographic location etc. The segment when qualified can be used an independent variable affecting the demand of the product in question.
Q. What do you meant by Real GDP? Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects o
What are the "three basic economic questions" that economists often address when examining how much economic output is formed? The three basic questions are: a) what is prod
Syndicated and organized oligopoly
Distinction between Human Capital and Resource and Manpower Health and education are normally considered as human capital. Health includes both physical health and fitness. E
what is the value in 10 years of 1 million dollars if interes rates are 4%?
Q. Describe Consumer Price Index? Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purc
Ben prefers the mixed consumption basket x+y to either 2x alone or 2y alone. But as between the latter baskets, he would rather have the 2x. Do the fact stated indicates the axiom
Market demand and supply of a good is shown by QB = 2,160 - 180P and QS = -2400 + 300P where QD, QS and P stand for quantity demanded, quantity supplied and price respectively. (a
two or more variable inputs
Review: Full, Anonymous: No Answer each of the following questions using economic theory covered in this lesson. 1. Marginal revenue product is defined as the change in total
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