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What is the difference between Price inflation and Wage Inflation? Price inflation is the rate of enhance in the prices of goods and services whereas the wage inflation is ra
Identify the four essential economic activities. The four main economic activities are: a) resource maintenance, b) production, c) distribution, and d) consumpti
Entrepreneur: The entrepreneur or enterprise is a special factor of production that is in charge of the organization of the other three factors of production (land, labour and
GDP Price Level At the equilibrium level of income aggregate spending in the economy equals aggregate output. All along, we have assumed that the general price level remains un
#questAbout four years ago, Kanye West performed at the UIC Pavilion. General admission tickets were priced at $30. Concert promoters say that price elasticity of demand for genera
what is break even quantity
IMPLICATIONS OF FAILURES OF POLICY IMPLEMENTATION: Given the phenomenon of policy failures, as indicated above, one often comes across the view that places the blame for these
Define injections and withdrawals. "The inflows in circular flow of income are known as injections". Investment, government spending and exports are there in injections "The
CONSIDER THE DEMAND CUVE Q=100-50P DRAW THE DEMAND CURVE AND INDICATE WHICH PORTION OF THE CURVE IS ELASTIC ,WHICH PORTION IS INELASTIC AND WHICH PORTION IS UNIT ELASTIC
Q. What is Debt Burden? Debt Burden:Real economic importance of a debt relies on interest rate that should be paid on debt and on total income of consumer or business which und
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