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Laspeyres index The Laspeyres index tells us that: - The amount of money at present year prices which an individual requires to purchase bundle of goods and services which w
The price of petrol fell during the past year. a. Explain why the law of demand applies to petrol just as it does to all other goods and services. b. Explain how the substitu
Using tools of indifference curve, highlight on consumption in business economics.
Budget Constraints * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
What will be the effects of americas dependency on china?
how to look a graph in different kind of ppc in the graph when we see
1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
what is traditional economy 2 features of traditional economy
typical assumptions
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