What are the determinants of demand
What are the determinants of demand?
Expert
The fundamental determinant of demand is the price of the commodity under consideration: a change in price causes movement along the commodity’s demand curve. This movement is called a change in quantity demanded. Decline price leads to association down the demand curve: There is an increase in quantity demanded. Increased price leads to movement up the demand curve: There is a decrease in quantity demanded.
Question: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments." Briefly comment on this
A positive responsibility played through speculators within a market economy is to: (1) find out price levels for entrepreneurs. (2) predict the quantity at that long run equilibrium would be attained. (3) inform government organizations of consumer p
Enumerate and briefly discuss the main economic functions of government. Which of these functions do you think is the most controversial? Why?
9. The following table shows annual sales data for Stuff Happens, Inc., over the ten-year 1998-2008 period: Year Sales ($ Millions) 1998 $2.0 1999 2.2 2000 2.4 2001 2.6 2002 2.8 2003 3.0 2004 3.2 2005 3.5 2006 3.8 2007 4.1 2008 4.3 A. Calculate the 1998-2008 growth rate in sales using
Question: Monica has been considering buying a mountain bike. Last month Monica had an income of $30,000. The bike's price was $1000, the composite good price was $1, and she decided not to buy the bike. This month Monica was surprised t
How the government can increase the overall effectiveness of the market system?
Growth is a significant economic goal. Explain?
Writings on the historical process by Adam Smith of economic development do not comprise heavy reliance upon: (1) the development of property rights. (2) self interest. (3) divisions of labor in production processes. (4) innovations d
Elucidate how to maintain competition?
Explain the following from Hull, England a news dispatch: “The fish market here slumped today to what local commentators called a ‘disastrous level’—all because of a shortage of potatoes”.
18,76,764
1959210 Asked
3,689
Active Tutors
1442623
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!