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Economics; Different Perspective
? Economics is the knowledge of the choices taken by people who are faced with scarcity.
? Scarcity is a condition in which resources are restricted but can be utilized in various ways; so one good or service should be sacrificed for the other one.
Society’s Choices
? The decisions of consumers, producers, and government decide how an economic system answers 3 fundamental questions:
1. What products do we manufacture?
2. How do we manufacture these products?
3. Who consumes or intakes the products?
Establish relationship between production and cost for a firm operation in perfect competition market in case of i phone
Dumping In the international marketing, when an organization charges less for goods than it real cost or less than the organizations charges in its home market. This procedure
Static and dynamic multgipier
The drawbacks of a mixed economy actually depend on how "mixed" it is. For instance, if it is mixed more towards a free-market, there is little regulation (some may see this as a g
In the diagrams related to bandwagon effect, why do we say when the price is 30$ the demand is 40?
Production Function Models
the definition of exceptional supply curve
the prevention of major swings in economic activity cn be handled most easily by the financial or government sector?
explain and illustrate the changing demand for big mac using indefference curve and budget line
Problem 1: i) It has often been argued that a monopoly has both costs and benefits. Discuss. ii) Explain, using diagram the short and long equilibrium positions of a monopo
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