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The Market Mechanism Features of the equilibrium or market clearing price: – QD = QS – No shortage or scarcity – No extra supply price. – No pressure on th
how distribution is arranged to provide customer service
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Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
How might governments lower the natural rate of unemployment? An easy way to organise the answer is to separate possible solutions into two broad groups; interventionist and m
a reduction in investment spending would lead to
Distinction between Human Capital and Resource and Manpower Health and education are normally considered as human capital. Health includes both physical health and fitness. E
Why might economic growth not be compatible with sustainable development? Define economic growth; enhance in national income during a time period. Explain sustainable developme
what are the properties of marshallian demand function
veblen effect
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