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Aggregate household indebtedness:
This is the purchasing power of the sum of money outstanding that households have borrowed and are currently obligated to repay. If households are in debt to the degree that part of their current incomes are committed to instalment payments on previous purchases, they may well be obliged to reduce current consumption.
The price elasticity of demand is how economists calculate the responsiveness of consumers to alters in prices for a commodity. In other words, as price enhances (reduces), the qu
what is diversification
Market failures (even when they do not have international external effects) i) Self-fulfilling bank runs, government debt runs, currency crises. ii) Liquidation costs of li
what is law of variable proportions?
Mixed Economy: This type of economic system combines the features of both the capitalist and socialist economic systems. The private sector is allowed to function on the principles
EXCEPTIONAL SUPPLY
An ole firm can use its own data of past years regarding its sales in past years. These data are known as time series of sales. A firm can predict sales of its product by fitting t
Define Nash equilibrium
#1 explain with the aid of diagram the effect of an increase in demand for palm oil on the equilibrum position for palm kernel
give assumption, rules/formulas and demonstrate that ramsey prices are the seconnd best pricing. explain clearly.
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