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Situation is where a luxury is there. There is the snob appeal possibility where the higher the price, the more desired the commodity it. Often people will drive expensive cars, easily because of the image it makes. If the car is extremely expensive, i.e., Rolls Royce, the snob effect may be the primary motivation for the purchase. This also works with less costly commodities. For example, Joy Perfume advertised itself as the world's most costly to attract consumers that their marketing surveys shown would respond to the snob effect.
according to Tobin 1993,examples of Keynesian unemployment includes situation where
GOOD GOVERNANCE TO ENSURE IMPLEMENTATION OF ECONOMIC POLICY: Government is very sensitive to the expectation of the people and sincere efforts in this direction have already
introduction of production
All other things equivalent, the higher the proportion of income spent for the commodity more price elastic will be the demand. Most home owners are recognizable with how this de
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
define perspective of managerial economics.
Select a news article dated within the previous two months and analyze the issue using the economic concepts and theory learned in this class
how microeconomic issues maybe represented using production posibility curve
in the keynesian model the price is assumed to be what? a.exogeneous and remaaining constant b. endogeneous and remaining constant which is correct?
Is the terms of trade (TOT) explained as the ratio of the value of exports to the value of imports? How does the TOT relate to the exchange rate? The terms of trade (TOT) is ex
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