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Explain what the phrase “price rationing” means.Price rationing is the method by which the market system assigns goods and services to consumers while quantity demanded exceeds quantity supplied.
What is development economics? Traditional economics studies the allowance of scarce resources among alternative uses. Development economics seems at the economic, politica
why does the quantity of education change in the private universities much more responsive than salt as to changes in price?
THEORY OF DEMAND: The consumer behaviour under indifferencecurve approach where it is assumed that the consumer possesses a utilityfunction. The next most important theory th
What is Economic Theory? An economic theory that can be considered an axiomatic approach comprise a set of assumptions and circumstances, an analytical framework and explanatio
Defined Benefit Pensions: A pension plan that pays a specified monetary benefit, generally based on a pensioner's years of service and their income at the time of retirement.
#limitations of time series analysis
What types of questions would concern microeconomics, versus macroeconomics? Microeconomics concerns itself with decision-making of individual consumers, firms and other organ
1.A firm producing Golf sticks has a production function given by Q=2v(K L) In the short run, the firm’s amount of capital equipment is fixed at k = 100. The rental rate for k
What main features are found in oligopolies? Assumptions of oligopoly Four or five firm concentration ratio Frequently there are benefits of scale to be had Merg
Comment on the current account trend since 2013 till 2015
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