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Change in the population of consumers:Population changes may affect the demand for a commodity.Areas of high population may demand more of certain commodities than areas of low populations. For example, Nigeria may demand more of certain goods and services than Ghana because Nigeria’s population is higher than that of Ghana. And even as the population of a country increases the demand for goods and services may also change.Changes in market strategiesMarketing strategies such as advertising, publicity and sales promotions (e.g. raffles are means used to get consumers to increase their purchases of a commodity. They are intended to inform and persuade existing consumers as well as new ones to buy more of the commodity. Effective marketing strategy will lead to an increase in demand for the commodity, all other things being equal.
what is the meaning of total revenue?
Suppose an economy has four sectors, Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest
In his 2009 budget proposal for the U.S., President Obama wrote, "Unfortunately, we are also inheriting the worst economic crisis since the Great Depression which will force us to
Carbon Tax: An environmental tax that is imposed on products that utilize carbon-based materials and thus contribute to greenhouse gas pollution (comprisinggas, oil, coal and other
description of slutskian approach
WHAT ARE THE PRACTICAL IMPORTANCE OF INCOME ELASTICITY OF DEMAND?
fundamental problems
Choosing Output in Long Run * In long run, a firm can change all its inputs, including size of the plant. * We are taking free entry and free exit. * Accounting
Suppose that investment spending increases by $10 million, shifting up the aggregate expenditure line and increasing GDP from GDP1 to GDP2. If the MPC is 0.9, then what is the chan
I need help with tutoring session for an economic coursework
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