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Q1. What are the impacts of demand? What happens to the demand curve when each of these determinants changes? Distinguish between a change in demand and a change in the quantity demanded noting causes for each.
Q2. Explain how does development of personal computer hardware and software reversed some of the trends brought on by the industrial revolution?
Q3. Distinguish among a supply function and a supply curve. What is the difference between a change in the quantity supplied and a shift in the supply curve?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
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The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
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What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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