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Banks: A company which accepts deposits and issues new loans. It makes profit by charging more interest for loans than it pays on deposits, and through several service charges. By issuing new loans (or credit) banks create new money that is necessary to promoting economic growth and job creation.
determinate equilibrium price and quantity. if Qd=7-1/2p AND Qs=1/4P-1/2
Explicit cost: Explicit costs are payments made by the firm when it purchases or hires factors of production for the production of goods and services. They are also referred t
Consumer Behavior The description of how consumers allot their resources (income) to the purchase of various goods and services to get maximum in their well being. There a
Q. Explain abput Capitalist Class? Capitalist Class:Group of individuals (which represents just a couple of percent of population in advanced capitalist countries) which contro
cartels model of collusive oligopoly
functions of taxes
what is traditional economy 2 features of traditional economy
illustrate and explain the changing demand gor big Mac using the indifference curves and budget line
the definition of exceptional supply curve
Elasticity of Market Supply • Perfectly inelastic short run supply arises when industry's plant and equipment are so fully utilized that new plants should be built to ac
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