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Q. Proportion of Market Supplied - Determinants of Demand?
Price elasticity of market demand moreover relies on the proportion of market supplied at the determined price. If less than half of the market is supplied at determined price, elasticity of demand would be higher if more than half of the market is supplied. Which means demand curve is more elastic at the upper half than at lower half.
CAPITAL ACCOUNT This records all transactions arising from capital movements into and out of the country. There are a variety of such capital flows recorded, namely: i.
NON-ACCELERATING INFLATION RATE OF UNEMPLOYMENT During 1970s economists encountered a puzzle in the sense that inflation and unemployment data did not fit into the Phi
Q. Explain about Labour Economies? Labour Economies: As the size of output increases the firm enjoys labour economies because of (a) specialisation, (b) time-saving (c) autom
Prices of the factors of production As the prices of those factors of production used intensively by X producers rise, so do the firms' costs. This cause supply to fall as some
What limitations are inherent in the economist’s view of pricing?
(a) Describe how commercial banks determine their output, interest rates and profit levels assuming they act as oligopolies. (b) To what extent is the above statement a reality
BUSINESS CYCLES Meaning: The business cycle is the tendency for output and employment to fluctuate around their long-term trends. The figure below presents a stylised
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The Economics of Population Population issues became matters of economic concern when it became increasingly apparent that the problem of excess population may be a serious ob
prepare a break-even analysis to determine volume required to cover costs with and without a specified profit target and price.
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