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How the above would apply to non-renewable resources such as oil.
This has general applicability to any competitive market. The issue here is that potential supply has a finite limit and that ever-lower reserves of oil mean scarcity higher price → incentive for suppliers to find additional reserves. It also means that the rationing function will kick in; higher price→ consumers will reduce quantity demanded and look for substitutes.
KEYNES' THEORY AND EXPECTATIONS : Expectations played a major role in Keynes' theory of the determination of aggregate output and employment in market economies in the short run
Use a PPF to explain the trade-offs that all economies face. All countries must construct some sort of system whereby output, allocation and distribution of goods is decided.
economics of uncertainty with examples
I would tend to think that a 5% per year goal is more reasonable. Smaller incremental goals always appear to be more attainable, while more radical goals may actually be more diffi
1. Go to the website for MarginalRevolution. Find">http://www.marginalrevolution.com Find two posts that related to microeconomic topics that we are covering and write about on
Lakshani has $5 to spend on pens and pencils. Each pen costs $0.50 and each pencil costs $0.10. She is thinking about buying 6 pens and 20 pencils. The last pen would add five time
describe scitovosky''s double criterion
boumal''s single product modelwith out advertisment
Proportion of Workers in Organised and Unorganised Workers: Increasing share of employment in unorganised sector reflect the deterioration in the quality of employment because
what is the south africas governments standpoint on international trade
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