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Utility
Utility is the amount of satisfaction derived from the consumption of a commodity or service at a particular time. Utility is not inherent but a psychological satisfaction, i.e. depends on the individual's own subjective estimate of the amount of satisfaction to be obtained from the consumption of the commodity.
Direct Action Direct action in more than one from has been employed by the central banks either as an alternative to their discount rate policy or open market operations or tog
SIGNIFICANCE OF THE CONCEPT AND THEORY OF SEARCH UNEMPLOYMENT From what has been said earlier, you understand the significance of the theory of search unemployment as
Basic textbook models, such as the Mundell-Fleming model, say that capital inflow happens due to the domestic interest rate being higher than the world interest rate, and therefore
pricing under oligopoly
Disadvantages of the Planned System The centrally planned economies suffer from the following limitations: Lack of choice: Consumers have little influence over what is p
Demand management policies These policies are intended to increase aggregate demand and, therefore the equilibrium level of national income. They are sometimes called fiscal a
Harrod Domar Theory A basic principle that has been stressed by both Harrod and Domar in their growth models and which has been incorporated in all modern growth theories is th
calculate point elasticity of demand for demand function q=10-2p for decrease in price from rs 3 to rs 2
The Consumption Function The consumption function is the relationship [expressed in mathematical or diagrammatic form] between planned consumption and other independent varia
the demand for widgets(x) is given by: px=160 -4x the production of widget has the following average variable cost: Avc=2x-20 fixed cost are 162 calculate the output level of widg
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