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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.
Cost Push or Supply Inflation: It is a situation where the process of increasing price level is caused by increasing costs of production which push up prices. Cost push infla
Working Capital: A business requires a certain revolving fund of finance to pay for regular purchases of initial labour, raw materials and other inputs to production. Working capit
Define Nash equilibrium and explain with the help of the game ''prisoner''s dilemma''.
Definition of oxidation number... Oxidation number is a charge of central atom appears to keep if all of the ligands are removed along with the electron pairs which are shared wit
a. Generally, there will be a difference between the CV and the EV. Why? b. The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it
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Ask question # how do you formulate a demand and supply equations when you a table of prices, quantity demanded and supplied?
Illustrate about the elasticity of substitution. The Elasticity of Substitution: The technical substitution’s marginal rate measures the slope of an isoquant. As well the el
Trade union can also pay a useful role in improving the wages of the workers without causing adverse effects on employment. This case which is intensely associated with the idea of
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