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What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
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What are the important functions to maximize total surplus? The market equilibrium maximizes total surplus since the market performs four significant functions are as follows:
First Degree Price Discrimination - The monopolist sells different units of the commodity at different prices which differ from person to person. Second Degree Price Discriminat
Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive
Two consumers John and grayson like to transfer songs to their phones from jose phone the table represents their willingness to pay and jose willingness to accept for each download
Equilibrium is explained as follows: Equilibrium is the state in which there are no shortages and surpluses; or we can say that the quantity demanded is equal to the quantity s
How do we evaluate the value of money? Supply and demand verifies the value of a currency. If demand is high, the value rises, and vice versa. Factors that affect supply and de
ref article :http://www.economist.com/news/finance-and-economics/21587795-if-congress-fails-lift-limit-americas-debts-consequences-are a.assume that the debt ceiling crisis
Current Account Deficit (CAD): Boon or Bane The general belief is that high CADs are dangerous. In general, this is correct. But the converse that low CADs are good is not. A
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