Business Economics, Business Economics

Assignment Help:
(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity.
(i) Consumer preferences, that is, whether consumers regard the commodity as a ‘luxury'' or a ‘necessity''.
(ii) The narrowness of definition of the commodity.
(iii) The length of the period under consideration
(iv) The availability of substitutes for the commodity

Related Discussions:- Business Economics

What are economic sectors, What are economic sectors? For the function...

What are economic sectors? For the functions of analysis the production of goods and services can be classified in four groupings as given below: a. Primary sector b. Se

Baumol''s, the basic assumption of the static model

the basic assumption of the static model

Is population growth a problem, Is population growth a problem? Quick p...

Is population growth a problem? Quick population growth is a main cause of poverty and arises where population growth go beyond the rate of economic growth. Standards of liv

What are the assumptions of dependency theory, What are the assumptions of ...

What are the assumptions of dependency theory? The assumptions of dependency theory: Dependency theory extends Marx is theory of surplus value to international relationship

What is the lewis model, What is the Lewis Model? The Lewis Model argue...

What is the Lewis Model? The Lewis Model argues economic growth needs structural change into the economy whereby surplus labour within traditional agricultural sector along wit

Apply concepts to real economic situations, Applying economic concepts to s...

Applying economic concepts to situations at work.  This writing assignment is intended to give you a chance to apply concepts to real economic situations. Think of these concept

Shares, How to record shares for a company for a project

How to record shares for a company for a project

How is harrod-domar model used in planning, How is Harrod-Domar model used ...

How is Harrod-Domar model used in planning? The Harrod-Domar model is helpful to government for setting target rates for saving required to deliver a specified rate of economi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd