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Q. Explain about Gross Domestic Product?
Gross Domestic Product:Value of all the services and goods produced for money in an economy, evaluated at their market prices. Excludes the value of unpaid work (like caring reproductive labour performed in the home). GDP is calculated by adding up the value-added atevery stage of production.
similarities
Q. Level of aggregate demand in economy? Demand-pull inflation takes place when there is an increase in level of aggregate demand in economy. Aggregate demand comprises five co
why sellers and producers keep pricess lower
Development plan: A Development Plan is a document which contains a policy framework and programme of development for a time period for a country. It sets out the general meas
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an emission fee levied against polluting firms will tend to shift the supply/demand curve of the firm/product to the left/right?
In a competitive market, the market demand is Qd = 150 - 5P and the market supply is Qs = 5P - 10. As a result of a price ceiling imposed at $14, the new consumer surplus and produ
Question 1: The price of the good X rises from $1.30 to $1.40. Calculate the price elasticity of demand by using the mid-point method. Question 2: How do you explain the answer
Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the commod
derivation of demand curve
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