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define economics in plural sense. .
Q. Explain Labour Intensity? Labour Intensity: Ratio of labour effort expended, compared to total on-the-job compensated labour time. A higher ratio of labour intensity reflect
4) The prevention of major swings in economic activity can be handled most easily by the A. household sector B. business sector C. financial sector
ELASTICITIES OF SUPPLY AND DEMAND Usually, elasticity is a measure of the sensitivity of one variable to the other. It told us the percentage change in one variable in re
why we study micro econmics?
illustrate and explain the changing demand gor big Mac using the indifference curves and budget line
A local airline charges $500 to fly (round-trip) to Louisville, Kentucky. From the past three months, whereas the $500 fare has been in effect every of the two daily flights have a
What is the difference between a change in demand and a change the quantity demanded? There is a distinction among demand and quantity demanded. Demand explains the behavior o
Arc Elasticity is defined below: Arc elasticity measures/calculates the "average" elasticity between two points on the demand curve. The formula is simply given as (change in q
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