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Change in the population of consumers:Population changes may affect the demand for a commodity.Areas of high population may demand more of certain commodities than areas of low populations. For example, Nigeria may demand more of certain goods and services than Ghana because Nigeria’s population is higher than that of Ghana. And even as the population of a country increases the demand for goods and services may also change.Changes in market strategiesMarketing strategies such as advertising, publicity and sales promotions (e.g. raffles are means used to get consumers to increase their purchases of a commodity. They are intended to inform and persuade existing consumers as well as new ones to buy more of the commodity. Effective marketing strategy will lead to an increase in demand for the commodity, all other things being equal.
The Industry's Long Run Supply Curve * The Effects of Tax - Earlier we studied how firms respond to taxes on an input. - Now, we will consider how firm responds to tax o
Boltzmann Distribution: In most cases of interest of chemistry the particles adopt the Boltzmann distribution. Qualitative considerations: the general expression for W given by eq
a machine cost 18871.00 today. at the end of each year I own the machine & it gives me returns of 4,948.00 after paying repairs and maintenance. After 6 years, I expect to sell it
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
How do we evaluate the value of money? Supply and demand verifies the value of a currency. If demand is high, the value rises, and vice versa. Factors that affect supply and de
discuss how economic theory explains the optimum pattern of consumption of an individual consumer
Problem: i) What do you meant by the term ‘economic efficiency'? ii) By using appropriate examples differentiate between fixed and variable costs. iii) Consider different
Q. What is Cost effectiveness analysis? Cost effectiveness analysis A method which seeks to identify the least cost option for meeting a particular objective. It actives prior
Problem: (a) Define money and briefly explain its core functions. (b) Explain the relationship between interest rate and price of bonds, illustrate using example. (c)
draw a PPF when a hurricane slows down the nest two months of butter production?
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