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Unemployment: Individuals who want to be employed, and are actively seeking work, but can't find a job, are considered ‘officially' unemployed. Individuals who aren't working, but not actively looking for work, are considered to be outside of labour force, and thus don't count as ‘officially' unemployed.
consumer choice involving risk
What is affected variable and cause variable? In a graph, one variable is dependant and the other is independent. The dependant variable is known as effect variable and indepe
According to the Linder theory ,trade will occur in goods that have overlapping demand. With aid of a graph ,illustrate this theory and its implications
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
Economics- Definition Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people. Microeconomics h
Evaluation of the WTO: The WTO is different from and an improvement over the GATT in the following respects: • The WTO is more global in its membership. • The WTO ha
Consider a market that is served by a single-price monopolist with marginal cost given by MC = $100 + Q. The market demand is given by P = $800 – 3Q. Determine the following: the f
the conclusion
Low standards of living: In developing nations general standards of living tend to be very low for the vast majority of the people. These low standards of living are manifest
Assume that the market equilibrium rent for two-bedroom apartments in Santa Monica, California is $1500 per month and the quantity is 40,000 units. The city council of Santa Monica
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