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Durability of the Commodity:With some commodities, we require one at a time and they are used for a very long time before they get spoilt. Examples of such goods are cars, televisions, furnitures, building, clothes etc. They tend to hve low elasticity of demand (inelastic demand) because when the price of a durable commodity changes, consumers will continue to use what the have.Even when the price of such a commodity falls, it is new consumers who will mostly buy them.
Luxuries and NecessitiesLuxuries are things we can always do away with hence they tend to have elastic demand. Necessities are difficult to dispense with and they tend to have inelastic demand.
Foreign investment: To attract foreign investment – Developing Plans are used as a means of attracting foreign investment or foreign aid.Foreign government and international o
3, chapter 12
Problem: i) What is meant by ‘own' price elasticity of demand? What factors are likely to affect the size of this elasticity? ii) A publicly owned bus line is running at
The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b
Environmental Scan SWOT analysis: SWOT analysis will help to describe about the strengths, weakness, opportunities as well as threats. This is the strategic planning method
Should the bank not have anyone to lend the demand deposit to (like that will ever happen) would the size of the money multiplier decrease? If so, why?
uses of time series in indian economy
merits and demerits of monopsony
Determine the value of the marginal product of labor. Equilibrium in the Labor Market Each firm will hire labor up to the point at that the value of the marginal product of
suppose, as in the federal income tax code for the united states, that the representative consumer faces a wage income tax with a standard deduction. That is the representative con
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