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Inflation And Unemployment: Inflation describes a persistent and an appreciable increase in the general price level. The inflation rate is measured as a percentage change in a
In his 2009 budget proposal for the U.S., President Obama wrote, "Unfortunately, we are also inheriting the worst economic crisis since the Great Depression which will force us to
Economics- Definition Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people. Microeconomics h
Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite
RECENT DEVELOPMENT IN DEMAND ANALYSIS: For many years economic theorists analysed the optimal behaviour of consumers while econometricians estimated consumer demand and expend
Problem 1: How can a manager of a supermarket maximise total revenue using various concepts of elasticity of demand? Use examples to illustrate. Problem 2: What are the
Determinants of Social Demand - Economies of Scale The universe of knowledge is highly diverse. There are certain branches of knowledge whose value to human culture and civil
is economics a positive science
Types of unemployment: Frictional Unemployment: -It refers to unemployment caused by changes in individual labour markets.This is the type of unemployment resulting from peop
1) Lynne's income is £2, 000 and she is risk averse. The probability of someone slipping on her stairs is 1/8. If this happens, she will be sued for £1, 000 and will have to pay th
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