Surplus of the good
Describe when there will be a surplus of the good?
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When the real market price is more than the equilibrium price, then there will be a surplus of the good.
Can someone help me in finding out the right answer from the given options. The consumer maximizes utility whenever the spending patterns cause: (1) Marginal utility of each and every good to be at its maximum value. (2) Marginal utilities of each and every goods cons
The origin of economic growth can be traced back to Adam Smith's Wealth of Nations. InSmith's view, economic growth of a nation depends on the 'division of labour' and specialization, and is limited by the limits of div
The fact that most of the necessities for life like water are priced much lower than the frivolities like diamonds is addressed by the: (1) Utilitarian enigma. (2) Law of diminishing marginal utility. (3) Rational ignorance of hypothesis. (4) Paradox of the value. (5)
Economic systems differ according to which two main characteristics?
Explain the concept of “economies of scale” and “increasing returns”.
What is another name of macroeconomics? Answer: Income theory
Help me with this assignment! Just 25 questions! Thank you so much!
If $9 is required to buy £2, what is the exchange rate for USA dollar? Answer: £1 = 9/2 = $4.5, i.e., £1 = $4.5.
What is "demand-pull" inflation?
A country’s balance of trade is Rs. 75 crores. The value of imports of goods is Rs. 100 crores. What is the value of exports of goods?
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