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why risk averse consumers pay premium for insurance to convert an uncertain outcome to a certain one?
Disadvantages of State Trading State trading has several disadvantages. (i) State trading is often afflicted by the corruption and inefficiency usually associated with the pu
Two consumers John and grayson like to transfer songs to their phones from jose phone the table represents their willingness to pay and jose willingness to accept for each download
Equilibrium is explained as follows: Equilibrium is the state in which there are no shortages and surpluses; or we can say that the quantity demanded is equal to the quantity s
What is main difference between capital intensive goods and primary products? Primary product means the major product in which the firm is dealing. Capital intensive good mea
What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and w
Manners of reaching to someone's place with a present of anything like flowers, chocolates, etc. In U.S., it's not feel good to give flowers to women by men. If a man giving some g
How is the wrong conclusion result in necessary condition not in the sufficient condition? This is often heard that the market institution must not be used based onto the fact
Question: (a) The market demand schedule and market supply schedule for firm H is as follows: Q D = 500 - 10P Q S = -100 + 6P Where Q D and Q S denotes quantity de
Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of
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