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A trend line can be fitted through a series graphically. Old values of sales for different areas are plotted on a graph and a free hand curve is drawn passing through as many points as possible. The direction of this free hand curve shows the trend. The main draw bask of this methods is that it may show the trend but not measure it.
What are economies of scale and diseconomies of scale? In economics, returns to scale and economies of scale are terms that are related and sometimes incorrectly used intercha
if coast of good A fall by Rs.1 & coast of good B increases by 1 Rs. what will be the effect on budget line
What is law of combination
Services and goods that are used for their ultimate end purpose, meeting some human desire orneed. Consumption may include private consumption (by individuals, financed from their
Under capitalism, most production is undertaken by private companies (of various forms), with the goal of generating a profit to the company's owners. Profit is obtained when compa
Consider a family saving function for the population of all families in the United States: sav = β 0 + β 1 inc + β 2 hhsize + β 3 educ + β 4 age + u where hhsize is househol
For each of following production functions, comment on the ability to substitute capital for labor. Note that Q, K, and L denote output, capital, and labor respectively. A: B
Elasticity of Price Expectations (epe)
Consider two hypothetical nations, Solowia and Growia, which are defeated in wars. These two nations were suffered from wars differently; the damage is on capital stock in Solowia,
Volume of Trade: It relates to the size of international transactions. Since a large number of commodities enter in international transactions and their aggregate can be found
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