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Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production).
Production: Process by which human labour (or ‘work') is applied, typically with the help of tools and other forms of capital, to produce useful services or goods.
Calculate the price elasticity of demand or supply for the following function when P=8 p=6(I)p=40-0.5q
IMPLEMENTATION OF ECONOMIC POLICIES: Innumerable studies are available to document these failures of policy and planning. However, there are vast differences of opinion conce
Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite
Partial Input Elasticity of Output: This is a short-run concept which deals with the variability of only one factor keeping the others constant. There are three kinds of retu
Assignment: Externalities •Consider the following scenario: The city council has just approved the construction of a water park in your town. As city economist, you are responsible
Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
graphing a isoquant
Measures to control inflation: Fiscal policy is one of the two main macroeconomic policies used to control aggregate demand and thereby achieve economic stability. Fiscal meas
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please may you explain this concept
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