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The availability of credit and hire purchase facility tends to push up the demand for consumer durables. In India for consumer durables lie Refrigerators television scooters etc, hire purchase facility is available. In western countries the extension of credit is used as sales promotion measure. Among the manufactures the Indian sewing machines company manufacturers of singer claim to have pioneered hire purchase in India ( Business India). Hawkins pressure cookers are also available on hire purchase basis. The intensified competition between car and two wheeler manufacturers has lead to many firms extending credit for their purchases.
The circular flow diagram is used to represent the interdependence that exists between sectors of the economy. The diagram illustrates that there are various collections of same e
Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are o
Reasons for development planning: To maximize the utilization of economic resources: The resources of any nation are not always enough for her use. In this wise, resources mus
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
Price Level:Overall average level of nominal prices in the economy can be calculated, most often as a weighted average of the prices of individualservices and goods (with weighting
law of diminshining marginal utility
Reducing Risk Three methods consumers attempt to reduce the risk are: 1) Diversification 2) Insurance 3) Collecting more information
# 1 Question: Consider a competitive market for Berries. The market demand for the berries is Qd=50-P (Qd is the quantity demanded (cartons) and P is the price in $. The market sup
Purpose: this case is intended to model supply chain, especially the reverse logistic behaviour. Description: In Cal Poly Pomona, TOM301 (Operations Management) is a core cou
Are there any economic effects to non-Hispanic whites, given that they no longer represent the majority of the population? Why are these examples important from an economic standpo
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