Start Discovering Solved Questions and Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
Capital formation: It is an increase in the stock of capital in particular period is termed as capital formation.
Real gross domestic product: If GDP of a particular year is estimated or evaluated on the basis of the base year prices it is termed as real gross domestic product.
Flow variables: Any variable, whose magnitude is evaluated over a time period, is termed as glow variable.
Nominal gross domestic product: If GDP of a particular year is estimated on the base of price of similar year, it is termed as nominal GDP.
Capital goods: Goods employed in producing other goods are termed as capital goods.
Stock variable: It is a variable whose value is measured or evaluated at a point of time.
Describe why the equilibrium price of commodity is determined at the level of output at which its demand equavalents its supply.
Market for goods is in equilibrium. There is an increase in demand for this good. Describe the chain of effects of this change. Elucidate with the help of diagram.
Difference between collusive and non-collusive oligopoly. Elucidate how oligopoly firms are interdependent in taking price and output decisions.
Features of oligopoly: Following are some principal features of oligopoly : A) A few firmsB) High degree of interdependence.C) Non-price competition.D) Entry barriers.E) Formation of cartels.
Oligopoly: This is a form of the market in which there are some big sellers of a commodity and a big number of buyers. There is a high degree of interdependence between the sellers regarding their pri
Product Differentiation: The Product differentitation is a condition when various producers under monopolistic competition, try to differentiate their product in terms of its size, shape, packaging, t
Price discrimination: The Price discrimination is a situation whenever a monopolist charges distinct price from various buyers of the similar product. This is usually done to maximize profits.
A firm under monopoly a price maker by the reasons shown below:A) The monopolist is a single seller of the product in market. Therefore it has full control over supply.B) There are no close replacemen
The firm beneath perfect competition is a price taker by the reasons shown below:A) Number of firms: The number of firms beneath perfect competition is so big that no individual firm by changing sale,
Why demand curve is more elastic under monopolistic competition as compare to monopoly.
Describe the implication of perfect knowledge regarding market beneath perfect competition.
Describe the implication of freedom of entry and exit to the firms beneath perfect competition.
Elucidate why are firms mutually interdependent in oligopoly market.
Describe the implication of big number of buyers in the perfectly competetive market.
Conditions of producers equilibrium: The conditions of producers equilibrium through the marginal cost and marginal revenue approach are as follows. 1. Marginal cost should be equal to marginal reven
Producers equilibrium signifies the stage beneath which with the help of given factors of production producer attain the level of production of which he is acquiring maximum gain.
Describe how technological advancement influence the supply of specific product.
Describe how changes in the prices of other products influence the supply of a specific product.
Elucidate how does change in price of input influence the supply of a good.