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Price rise in future must not be expected - law of demand
If the buyers of a commodity expect that its price will increase in future they raise its demand in response to an initial price rise. This behaviour of buyers violates the law of demand. Consequently, for the operation of the law of demand it is essential that there shouldn't be any expectations of price rise in the future.
State the Basis of business policies Managerial economics is the founding principle of business policies. Business policies are prepared based on studies and findings of manage
arguments in favour of traditional theory of profit maximization
Drafting of Production Policy: Demand forecasts assists in drafting appropriate production policy so that there may not be any space between future demand and supply of a product.
The quantity theory of money In the 17 th Century it was noticed that there was a connection between the quantity of money and the general level of prices, and this led to th
(a) Define and explain, using diagrams, consumers' surplus; producers' surplus and total surplus that a society can derive from production and consumption of a good at a particu
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
An optimum Population Countries are often described as under populated or overpopulated. From the economist's viewpoint these terms do not refer to the population density (i.
Determine the Specific Place of demand The demand should relate to a specific market as well. For instance, every year in the town of Dehradun, demand for school bags is 4,000
No demand forecasting method is 100% accurate. Collective forecasts develop precision and reduce the probability of huge mistakes. Methods which relay on Qualitative Assessmen
How we can measure Elasticity of demand Though a manager requires an exact measure of this relationship for appropriate business decisions. Elasticity of demand is a measure t
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