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Define Disposable Incomeand dumping
Disposable Income : The amount of income left after as deductions as income tax, pension contributions and national insurance. More generally called as 'take home pay'.
Dumping : The sale of goods in a foreign country at a price below that charged in the home market. This will often be completed at below cost price to dispose of surpluses of goods, or to establish markets.
The most fundamental economic problem is scarcity.
Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p
1. "Price discrimination allows a monopoly to increase its economic profit by capturing part of the consumer surplus and turning it into economic profit. Such a situation however l
types of cost
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would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Problem 1: (a) Explain the meaning of poverty. Briefly explain how poverty is measured? (b) Clearly explain the relationship between Poverty, Inequality and Economic Growt
Consider a hypothetical ABC economy in which the narrowly-defined measure of the money supply (M1), as defined in the Canadian sense, in existence is 1250$ million. Assuming the e
National income accounting: Final Goods: Final goods are goods and services which are being purchased for final use and not for resale or further processing or manufacturing
The demand for soft drinks has been estimated asQx 20PX 0.25PY0.45M 2 Determine the own, cross and income price elasticities of demand. Interpret your results.
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