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Services and goods that are used for their ultimate end purpose, meeting some human desire orneed. Consumption may include private consumption (by individuals, financed from their personal incomes) or public consumption (like health care oreducation - consumption organized and paid for by government). Consumption is different from investment, which includes using produced services and goods to expand future production.
How do I draw and interpret a combined ppc curve?
All about matter
how the equilibrium output and price is determined in williamson model of managerial discretion?
Factors that calculate price elasticity of demand: The proportion of Income spent on the Commodity If the price of a good is relatively low such the expenditure on it is a
what does General Equilibrium in consumption means?
Mikes' preferences for consumption and leisure may be represented by the Utility function: u(C, L) = ( C-200)*(L-80) . His marginal utilities of leisure and consumption are (C-200
Ask question what is frugal economy
1. Mrs Munyarryun, 67 years, has been retired from her work for two years. She rings for advice about urinary incontinence, a problem she has experienced over the last 6 months. Wh
Explain Monetarist and Monetary policy Monetarist: A group of economists who believe that alters in the money supply are the most effective instrument of government economi
Price System: Demand is the quantity of a commodity that consumers are willing and are able to buy at a given price at a given time period when all other things remain the sam
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