Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Importance of Income Elasticity
If a country is experiencing economic growth, the income of the people will increase. However, for those engaged in the production of goods with negative income elasticities, this will mean a declining demand for their product. Even products with positive income elasticities, there is a great variability of response.
Income elasticity therefore has a most important effect upon resource allocation. As such, prosperous areas of any economy are often those associated with products which have a high income elasticity. In recession the opposite will be true.
define scarcityand oppurtunity cost.show how these concepts are useful in managerial decision making
THE LAW OF DIMINISHING RETURNS (LAW OF VARIABLE PROPORTIONS) One of the most important and fundamental principles involved in economics called the law of diminishing return
Environmental issues of Managerial economics Managerial economics also includes some aspects of macroeconomics. These relate to political and social environment in that anin
The demand for good X is estimated to be: where p x price of X in dollars M = personal disposable income in trillions of dollars per year P y = price of a competitive in do
Factors influencing Exchange Rates i. Inflation: Other things being equal, a country experiencing a high rate of inflation will experience a lower demand for its goods whil
National Income National Income is a measure of the money value of goods and services becoming available to a nation from economic activities. It can also be defined as the to
why firms under oligopoly market should follow price rigidity?
Define Williamson''s Model of Managerial Discretion practice?
Measures to control inflation An inflationary situation can effectively be addressed/tackled if the cause is first and foremost identified. Governments have basically three
Indifference Curve Analysis In the 1930s a group of economists, including Sir John Hicks and sir Roy Allen, came to believe that cardinal measurement of utility was not necess
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd