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Q. Explain about Demand - Constrained?
Demand-Constrained: An economy is demand-constrained when level of output and employment is limited by the amount of overall demand (or spending) on its products. Capitalist economy is generally demand-constrained. Only rarely is the economy supply constrained: that is, limited by availability of workers and other productive resources.
Non-Tradable:Some products can't be transported over long distances or otherwise sold to consumers from far-off locations. These products (including some goods as well as most serv
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I purchase a used stove for $155 when I was willing to pay $185. If a new stove costs $375,what is my consumer surplus
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