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Natural Factors:Seasonal variations may affect the demand for a commodity at certain times of the year. For example, during the raining season, demand for commodities such as jackets, raincoats and umbrellas will increase while during the dry season, demand for commodities such as fans and air conditioners will rise.Availability of creditWhen consumers are given credit facilities in the form of credit purchases, hire purchases and the use of credit cards and cheques, they are encouraged to buy more goods. Granting credit facilities, therefore, increased demand for goods covered by these facilities, all things being equal.
Economic Ef ficiency The effort to making products and services in the least costly way without sacrificing excellence.
What is a Market? Markets A geographically stated area where buyers and sellers interact or communicate to decide the price of a product or a series of products. Marke
what is demand function
Q. Explain about Banking Cycle? An economic cycle that results from cyclical changes in the attitudes of banks toward lending risk. When economic times are good, bankers become
Change in the population of consumers: Population changes may affect the demand for a commodity.Areas of high population may demand more of certain commodities than areas of low
baumol''s theory
How does the PED and PES of commodities affect producers in developing countries? Explanation of PED (formulaic) Definition of PED outlining commodities as having lo
. Keep slope of supply constant and apply different slopes of demand curve and then show what happens if control price impose. Similarly, keep demand curve constant and apply diffe
Determine the Business Cycle and Classical Economists Business Cycle: The business cycle is the fluctuations in the rate of economic growth that take place in the economy. Th
what is indifference curve''s theory and application
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