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The Money Creation Process is explained below: We can now study the money supply or the creation process. Suppose the government wishes to buy pencils worth Rs. 10 for the offi
The definition of a price maker is a "firm with some power to set the price because the demand curve for its output slopes downward", which in effect, means those firms with a down
Suppose scientists discover that eating soybeans prevents cancer and heart disease. What effect would you predict on the price of soybeans?
Disadvantages of State Trading State trading has several disadvantages. (i) State trading is often afflicted by the corruption and inefficiency usually associated with the pu
Elasticity is a term broadly used in economics to signify the “responsiveness of one variable to changes in to another.” Types of Elasticity can be explained as follows: Th
When there is a positive expected rate of inflation (i.e., an expected and sustained increase in the levels of all prices), the Benefit Cost Ratio of a proposed project will take o
define perspective of managerial economics.
Consumer Surplus -Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid. The stepladder demand curve is converted into a
Chemical properties of p block elements
Isoquants * Assumptions - Food producer has 2 inputs Labor (L) & Capital (K) * Observations: 1) For any level of K, output increases with L. 2) For any
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