Define law of supply
Law of supply: It is the claim which, other things equivalent, the quantity supplied of a good increases whenever the price of the good increases.
What do you understand by the term Price (P) at Market in Economy?
What do you mean by the term Equilibrium? Also state its proper definition.
Administrative revenue: Administrative revenueis the revenue which occurs on account of the administrative function of government. It comprise: (a) Fees (college/school) (b) License fees paid to obtain permission to carry out a service (c) Fines and p
"The economic cost of unemployment is measured by the GDP gap." Explain this statement. ?
Depreciation of a currency signifies fall in value of domestic currency in terms of foreign currency. Illustration: When value of rupee in terms of US dollars falls, state from Rs. 45 to Rs. 50 per dollar, it will be a condition of depreciation of Ind
Redistribution of Income: Each and every economy strives to achieve a society, where inequality of income and wealth must be minimum. In order to attain this objective via government budget the government spends adequate money on social security schem
State main sources of demand for foreign currency? Answer: The four main sources of demand for foreign currency are as follows: A) To buy services and goods from other countries. B) To send a gift abroad.
Why is tax considered as revenue receipt? Answer: Since tax neither makes a liability for government nor decreases assets of the government.
Suppose the value of exports of goods of a country is Rs. 1,000 crores and the value of imports of goods is Rs. 1,200 crores, what will be the trade balance (or balance of trade)?
I need a good answer on the topic of Economic problems. Please give me your suggestion for problem which is specified below: Macroeconomics focuses mainly on: (i) inflation, unemployment, economic growth, and other aggregate econom
18,76,764
1939551 Asked
3,689
Active Tutors
1456754
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!