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Economics- Definition
Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people.
Microeconomics handles with:
• Conduct of individual units
• When Consuming; How we select what to buy
• When manufacturing; How we decide what to produce
• Markets: The communication of consumers and producers
• Evaluation of aggregate issues:
?? Inflation
?? Economic growth
?? Unemployment
What is the difference between houehold and consumers?
Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac
Explain the Demand Pull Inflation Demand Pull Inflation: Occurs when aggregate demand exceeds aggregate supply. If there is an excess level of demand in the economy, this w
little kona is company that is considering enter a market by big brew
related documents, photos,paper for permission from court etc.
What is the resultant pressure if 2.7 mol of ideal gas at 273 K and 2.51 atm in a closed container of constant volume is heated to 399 K
supply and demand
Q. Explain Nominal GDP? Nominal GDP: Nominal gross domestic product measures total value of all the services and goods produced and traded for money in the formal economy, eval
Ask factor affects elasticity of demandquestion #Minimum 100 words accepted#
concept of the law of supply
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