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Describe the Status goods of law of demand
The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulence for example gold,precious stones, rare paintings and antiques, etc. Rich people typically purchase such goods as they are very costly.
Time domain: Time domain is a term which is used to define the analysis of mathematical functions or physical signals, with respect to time. In the time domain, signal or function
Define Aunifying and omniscient theme Aunifying and omniscient theme found in managerial economics is the attempt to achieve optimal results from business decisions whereas tak
What do you mean by the fiscal policy? What are the instruments of fiscal policy? Briefly comment on India's fiscal policy.
What is the Permanent Income Hypothesis? What is the theory's potential relevance for assessing the effects of temporary tax cuts for the purpose of fiscal stimulus? If you were
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explain the law of demand
BUSINESS CYCLES Meaning: The business cycle is the tendency for output and employment to fluctuate around their long-term trends. The figure below presents a stylised
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What is producer surplus? “The more the competition among the sellers, the less the producer surplus enjoyed by the producers” – do you agree with the statement. Justify your answe
Optimum combination of resources The firm can maximise output given costs. That is when the entrepreneur attains the highest isoquant given a particular Isocost. At t
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