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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 or more of the nonprice determinants of demand. A shift to the right of the demand curve is known an enhance in demand; and a shift to the left of the demand curve is known a decrease in demand.
The Bandwagon Effect - This is desire to be in style, to have a commodity because almost everyone else has it, or to indulge in it. - This is major objective of marketing an
Q. Describe Classical Economics? Classical Economics:Tradition of economics which began with Adam Smith and continued with other theorists including Thomas Malthus, David Ricar
what do we mean by The narrowness of definition of the commodity.
EXCHANGE RATE SYSTEM: It is interesting to look at a case study of a country like India for several reasons: first it is a small country in terms of imports and exports as a p
Average Product (AP) of a Factor: The productivity of a factor is often seen in terms of its average contribution. Although not very important in the theoretical discussions,
"price is becoming cheaper,yet the demand for car is not rising".does it mean law of demand is not operative?
diagram of extension and contraction in demand?
Productivity:Generally, productivity measures efficiency or effectiveness of productive effort. Productivity can be measured in several different ways. Physical productivity measur
how can a price ceiling make consumers better-off? under what conditions might it make them worse off?
distinguish between Isocost and Isocline
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