Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Closesubstitute goods:The number of closesubstitute goodsThe more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. For example, the beverage, bornvita, has a number of close sustitutes such as milo, chocolim, ovaltine etc. Therefore, the demand for bornvita is likely to be more leastic because the slightest increase in the price of bornvita, consumers of the product will switch to the consumption of one of the substitutes.On the other hand, if the goods does not have any close sustitute, the demand tends to be less elastic or inelastic. For example, there is hardly a substitute to food as a whole hence the demand for food as a whole is inlestic.
.
Private and Social Benefits Private benefits are those which accrue to an individual. They may be both monetary and non monetary, direct and indirect. Earnings of an individua
WHAT ARE ROLE AND ASUMPTIONS OF ECONOMIC THEORIES
List four characteristics of monopolistic competition
equilibrium price and output.
Implications for the Role of Economic Theory : Like the schedule for the marginal efficiency of capital, expectations about the future market rate of interest underlie the li
What is economics about? Economics: Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like
What is Demand Forecasting? Explain in brief various methods of forecasting Demand.
What are the chemical properties of silicon?
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd