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Q. Describe Consumer Price Index?
Consumer Price Index:Consumer price index (CPI) is a measure of overall price level paid by consumers for various services and goods they purchase. Retail price information is gathered on each type of product and then weighted according to its significance in overall consumer spending, to construct CPI. Annual or monthly changes in CPI provide a good measure of the rate of consumer price inflation.
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
In the diagrams related to bandwagon effect, why do we say when the price is 30$ the demand is 40?
The Industry's Long-Run Supply Curve * Long-Run Elasticity of Supply 1) Constant-cost industry Long run supply is horizontal Small increase in price will induc
relationship between tfc , tvc , tc
Malthus and the Food Crisis - Malthus predicted starvation as diminishing returns limited agricultural output and the population continued to grow. - Why did Malthus' predic
Strategic Planning for Enhancing Exports: Strategic Planning for Enhancing Exports need to be undertaken at the national level. It is necessary to undertake a separate and
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
if marginal cost descreases then what else is effected by this
In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every
What are the causes of inflation? Define inflation as a steady enhance in the general price level. Then, there are, well, two and a half basic reasons: 1) Demand-pull infla
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