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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
What are the determinants of income elasticity of demand? There are three determinants of income elasticity of demand. These are: Degree of necessity of a good: In a developed
what are the uses of elasticity to the private sector
Cyclical Fluctuations: Consider a situation where the value of money above trend indicates an unexpectedly high level of money in the recent past. The model predicts that this
Why is the goal of stability and security important to many people? What problems typically emerge during periods of instability? The instability over the business cycle can b
Use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more women en
The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded.
sources of oligopory
Cross-Price Elasticity of Demand is explained below: Cross price elasticity of the demand is the percentage change in the quantity demanded of a particular good, with respect t
Perceived Value Pricing This refers to a pricing strategy that dictates that the price of a given item will be set based on the customer's perception of the value of that item
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