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Elasticity of Demand
As the law of demand establishes a relationship between quantity demanded and price for a product, it doesn't tell us exactly as how weak or strong the relationship happens to be. This relation, as already discussed is inverse baring some rare exceptions.
The Social Cost of Unemployment i. For the individual, there is the demoralizing effect which can be devastating particularly when they are old. This is because as some
Question 1: (a) Describe how asymmetric information influences the price system and resource allocation. Provide examples to support your answer. (b) Managerial decision-ma
on the application of any of the concepts learnt in Managerial Economics. You may try to use these concepts to everyday problems in life or in any of the current debates on in the
how manager can apply scarcity and oppotunity cost in managerial decision making
Disadvantages of Barter Trade It is impossible to barter unless A has what B wants, and A wants what B has. This is called double coincidence of wants and is difficult t
REALISM OF PERFECT COMPETITION The assumptions of perfect competition are obviously at variance with the conditions which actually exist in real world markets. Some market
what is the uses of production functns?
The greenhouse gas emission is estimated to grow in the medium and long term. In order to minimize the negative effects of global climate change, it is required to stabilize the co
Benefits are: 1) People can create their own decisions 2) The government has limited control, which is good for arrangement 3) Gives freedoms like Enterprise, ownership,
what are the Sources of public debt
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