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The availability of credit and hire purchase facility tends to push up the demand for consumer durables. In India for consumer durables lie Refrigerators television scooters etc, hire purchase facility is available. In western countries the extension of credit is used as sales promotion measure. Among the manufactures the Indian sewing machines company manufacturers of singer claim to have pioneered hire purchase in India ( Business India). Hawkins pressure cookers are also available on hire purchase basis. The intensified competition between car and two wheeler manufacturers has lead to many firms extending credit for their purchases.
what is ''Prisoner''s Dilemma'',of non-cooperative game?estion..
Marvelous Marvin spends his money on muffins (m) and a composite good (c) (whose price you may assume is $1 throughout this problem). Marvin's utility is U = m + c and his income (
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
why society has chosen the mixed economy
about opean market economy
Unemployment: Individuals who want to be employed, and are actively seeking work, but can't find a job, are considered ‘officially' unemployed. Individuals who aren't working, but
Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec
prove that marginal utility of x=the price of commodity x.
Ask questiowhat are the importance of the branches of economics
Capital Account: The capital account deals with long and short-term capital movement.These capital movements are referred to as autonomous because they take place for business o
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