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Price Level:Overall average level of nominal prices in the economy can be calculated, most often as a weighted average of the prices of individualservices and goods (with weightings reflecting the significance of each product in overall spending or output). Price levels can be calculated for consumer spending, for producer inputs, forwholesale trade or for any other category of production. The most common measures of overall price level are consumer price index and gross domestic product deflator.
Explain the term Laissez-Faire The term "laissez-faire" is used to explain an economic system where the government intervene as little as possible and leave the private sector
Define
How has the haberler''s theory of opportunity cost an improvement over the classical theory of trade
Explain the Human Development Index Introduced by the UN in 1990, the index take into account not only the goods and services formed but also the ability of a population to use
Demand Function The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product
meaning of economics laws
how advertisement affects the sales revenue of a form
illustrate graphically the influence of an increase in immigrants on the market supply of labour
How dose PPC help, illustrate the basic economic problem?
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