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Point elasticity
The point elasticity of demand is described as the proportionate change in quantity demanded in response to a very small proportionate change in price. The concept of point elasticity is useful where change in price and consequent change in quantity demanded are very small.
Q 3. What is Demand Forecasting? Explain in brief various methods of forecasting demand.
Disadvantages of the Planned System The centrally planned economies suffer from the following limitations: Lack of choice: Consumers have little influence over what is p
Question 1: Either ‘Today the business organizations are quite different from the traditional classical firm with a wide range of objectives.' Discuss the above statement
Investment Investment is the process of increasing the productive capital stock of a country, or can be defined as the production of goods not for immediate consumption. T
Individual and market demand schedule The plan of the possible quantities that will be demanded at different prices by an individual is called Individual demand schedule. Su
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Explain the role scarcity of resources plays in economics decision making
The theory of consumer's behavior seeks to explain the determination of consumer's equilibrium. Consumer's equilibrium refers to a situation when a consumer gets maximum satisfacti
In a one-shot game, if you advertise and your rival advertises, you will each earn RM5 million in profits. If neither of you advertises, your rival will make RM4 million and you w
points and its explanation
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