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Change in demand:
change in quantity demanded occurs when the consumption of a commodity increases or decreases as a result a change in the price of the commodity, when all other demand factors remain unchanged. This is shown as a movement along the same demand curve.There are two types of changes in quantity demanded: an increase in quantity demanded and a decrease in quantity demanded. A change in demand, on the other hand, occurs when either more or less quantity of a commodity is now demanded when the own price of the commodity has not changed. A change in demand is normally occurs when there is a change in any of the other demand factors (referred to as demand shifters). It causes a complete shift in demand curve.
Floating exchange rates There are two basic systems that can be used to determine the exchange rate between one country's currency and another's: a floating exchange rates (al
equilibrium price and output.
#question.PROPERTIES OF INDIFFERENCE CURVES WITH TABLE AND DIAGRAM.
Consumer Surplus -Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid. The stepladder demand curve is converted into a
Strategic Importance of Supply Chain Management This describes the scope of supply chain management (SCM), including the management of procurement, logistics and materials. It
Q. Explain about Demand - Constrained? Demand-Constrained: An economy is demand-constrained when level of output and employment is limited by the amount of overall demand (or s
What is Economics? Economics is explained as the study of how people choose to use their scarce resources in an attempt to satisfy their unlimited wants. In other words, we h
Could I have examples of syndicated and organized oligopolies with companies as examples
derive PCC for complementary goods
1. What are the uses of elasticity to the public sector and private sector? (20 marks)
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