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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 and advertising campaigns (such as toys, clothing). Positive Network Externality: Bandwagon Effect
what is ''Prisoner''s Dilemma'',of non-cooperative game?estion..
Expectations played a major role in Keynes' theory of the determination of aggregat output and employment in market economies in the short run. Expectations about future yields on
what is the reason behind studing this topic ?
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Use of Income elasticity of demand: Income elasticity of demand on the other hand, has the following uses (i) Income elasticity of demand shows how the pattern of consumer de
What are the causes of emergence of monopoly?
It is also known a sleadig indicators forecasting National Bureau of Economic Research of U. S.A has identified three types of indicate Leading indicators coincidental indicators a
Problems of population census: High Cost of Census: Censuses are supposed to be conducted at a 10 year interval. The high cost of conducting census has made it impossibl
Q. Explain General Equilibrium? General Equilibrium: Neoclassical economics presumes that production, employment, investment and income distribution are all determined by a con
Periodically, Merrill Lynch surveys its customers to determine customer satisfaction levels. They want to determine the impact of experience on the satisfaction ratings of their co
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