States the Extension and Contraction of Demand
States the Extension and Contraction of Demand.
Expert
Demand may change because of various factors. In demand, change because of change in price only, here other factors remaining constant, this is termed as extension and contraction of demand. A change in demand solely because of change in price is termed as extension and contraction. While the quantity demanded of a commodity rises because of a fall in price, this is termed as extension of demand. Conversely when the quantity demanded falls because of a rise in price, it is termed as contraction of demand.
In an entirely employed food-and-clothing economy, continual equivalent reductions in food output generally will make it: (1) Essential to decrease clothing output uniformly. (2) Probable to generate successively bigger increases in clothing output. (
Our society is possibly operating inefficiently when: (w) we could grow more pecans by producing fewer walnuts. (x) asthmatics would gain when all pollution were removed. (y) whole medical costs would be lower and people would be healthier when we dev
Provide a brief introduction of the term Marginal Costing? And also write down the essential suppositions made by Marginal Costing?
Illustrates the reasons for charging skimming price strategy?
When family incomes within the United States raised sharply and therefore, sales of cashmere sweaters improved enormously, in that case cashmere sweaters are: (1) luxury goods. (2) preferred to wool or cotton sweaters. (3) inferior goods. (4) prestige goods. (5) norma
Explain the concept of revenue.
What are the features of phases of business cycle?
Categories the cost concept of business operation and decision making?
Illustrates the area of decision making in Managerial / Business Economics?
Explain short term Demand forecasting.
18,76,764
1947217 Asked
3,689
Active Tutors
1452623
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!