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How economic theory explain optimum pattern of consumption for an individual consumer
When is the economic theory useless? One misunderstanding is to under-estimate the role of an economic theory. Several people thought an economic theory useless since they thin
The average price level has increased at a relatively rapid rate since 2008 even though the deep recession that UK experienced in 2008/09. The growth in the price level has been dr
Suppose the price of books is $15, the price of movies is $5, and your income is $75. Assuming you have a desire to reach constrained optimization, how many movies will you buy? Ho
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Explain three major barriers to development experienced by developing countries. Well, the scope of possible answers here is, em, wide, to say the least. The issue is not to si
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about opean market economy
Shifting the PPF Curve To raise the manufacturing of one good without reducing the production of the other, the PPF curve should shift outward. The PPF curve shifts outward as
Consider the model of corruption explored by Shleifer and Vishni's where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
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