How prices allocate resources
How prices allocate resources?
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A) The model of supply and demand is an influential tool for analyzing the market.
B) Supply and demand altogether finds out the price of the economy’s services and goods.
The country’s balance of trade is Rs.500 crores. The value of exports of goods is Rs. 650 crores. What is the value of imports of goods?
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Whenever longer periods are considered and hence bigger ranges of adjustments (that is, substitutions) become probable, demand curves tend to become: (i) Flatter, and therefore do supply curves. (ii) Flatter, as supply curves become steeper. (iii) Ste
Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
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