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How the above would apply to non-renewable resources such as oil.
This has general applicability to any competitive market. The issue here is that potential supply has a finite limit and that ever-lower reserves of oil mean scarcity higher price → incentive for suppliers to find additional reserves. It also means that the rationing function will kick in; higher price→ consumers will reduce quantity demanded and look for substitutes.
Expenditure Trends and Pattern: Total expenditure of the Centre has risen twice as fast as total revenue, although much of this reflects rising interest payments. Revenue expe
Low standards of living: In developing nations general standards of living tend to be very low for the vast majority of the people. These low standards of living are manifest
what is Microeconomics?
Q. What do you meant by Monetary Targeting? Monetary Targeting: A policy which attempts to directly limit the growth in total supply of money in the economy. It was main policy
what is consumer''s choice involving risk.preference toward risk.
Revise business plans to incorporate appropriate changes.
The Market for Pool Rafts The market for pool rafts in Playa del Largarto is competitive and includes no transaction costs. Five suppliers are willing to sell pool rafts in P
What are markets types of markets
using demand and supply curves explain how shortage and surplus are created
Demand Curve The demand curve is a graph which presents the amount of a good that consumers are willing and able to buy at various prices. A normal demand curve is downward slo
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