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What the definition of microeconomic
Think about the demand for the three popular game consoles: XBox, PS3, and Wii. What is the effect on the demand for XBox games and the quantity of XBox games demanded if, other th
Manpower-Population Ratios In this technique, manpower will not be planned for the economy as a whole. It will be planned for sectors or sub-sectors of an economy. For instanc
Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
Functions of the Central Bank: Currency issue and distribution: The Central Bank is the only institution empowered by law to issue currency notes and coins that are used as a
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Distinguish demand pull, cost push and imported inflation using graphs where appropriate. What are the likely causes of current inflation in Australia? Answer Co
What do you mean by the utility function? The Utility Function: Sometimes this is easier to work directly along with the preference relation and its connected sets. Althou
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
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