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a) A change in demand means that:
b) On the production-possibilities drawing, unemployment is represented by:
Economics contributes a great deal with towards the performance of managerial duties and responsibilities. Just as biology donates to the medical profession and physics of engineer
The production function of the personal computers for DISK Company is given by Q = 10 KL where Q is the number of computers produced per day, K s the hours of machine time,
Price elasticity of demand The price elasticity of demand is defined as the degree of sensitiveness or responsiveness of demand for a commodity to the changes in its price. Mo
is the sales maximization applicable
Lots of states have scratch offs with various different monetary payoffs. For example, the "$500 a week for life" in New York offers the payout and odds structure noted below.
The Circular Flow of Income and Expenditure This is an economic model illustrating the flow of payments and receipts between domestic firms and domestic households. The househo
Cost of Unemployment Unemployment is a problem because it imposes costs on society and the individual. The cost of unemployment to a nation can be categorized under three hea
Concept of Central bank M.H. De Kock concept of central bank is superior to that of others as it is more inclusive. His long definition of central bank includes many of the imp
Cross Elasticity Cross elasticity of demand measures the degree of responsiveness of the quantity demanded of one good (B) to changes in the price of another good (A). It is
Define the term forecasting As the term 'forecasting' may appear technical, planning for future is a critical aspect of managing any business or anorganisation. The long-term
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