Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Shortage, Surplus and Price Mechanism:
A shortage is the situation in which the demand exceeds supply, which means producers are unable to meet the market demand for the product.
A surplus is the situation of excess supply in the market, and in which market demand falls short of the quantity supplied; which means the producers are unable to sell the entire produced goods in the market.
The price mechanism is the signalling and rationing device which prompts the consumers and producers to adjust with their demand and supply, correspondingly, in response to the shortage or surplus. Shortages make the price to raise prompting producers to produce more and consumers to demand for the fewer goods. Surpluses make prices to fall prompting the producers to supply the less and consumers to demand more goods. In either case, the price mechanism attempts to clear shortage or surplus in market.
Explain the meaning of a production possibilities curve
The Government, Rest of the World and the financial markets total expenditure of government can be divided into two parts: transfers to private sector and consumption.
Joe has preferences over pizza (p) and beer (b) given by U = pb. The marginal utilities are MU p = b and MU b = p, and Joe's income is I = 60. 1. Find Joe's optimal consumptio
Q. Relation between Money - wealth and income? Money isn't the same as wealth. An individual may be very wealthy however have no money (for instance by owning stocks and real e
What is the use of long-run average total cost curve in the producing output? The long-run average total cost curve demonstrates the relationship in between output and average t
Based on the recent success of Ontario tennis star Milos Raonic, Nike Canadawill produce new state of the art tennis racket with a red maple leaf on the strings. Mike expects to se
1) Assume that the production function for New Zealand is given by Y = AK0.57L0.43, where Y is real GDP (in 2000 constant dollars), K is real capital stock, L is labour. The parame
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at
what are the factors effecting reciprocal demand?
What can be the topic to make assignment on indian macro economics
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd