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State the Specific Time of demand
Demand should be assigned specific time. For instance, it is an incomplete proclamation to state that demand of air conditioners is 4,000 at the price of Rs. 12,800 each. The statement must be altered to say that demand of air conditioners during summer is 4,000 at the price of Rs. 12,800 each.
Benefits are: 1) People can create their own decisions 2) The government has limited control, which is good for arrangement 3) Gives freedoms like Enterprise, ownership,
what is the relation between leverage and elasticity?
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