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State the example of price and price level
Create a basket which contains all the goods sold by a specific store on a specific day. Price of this basket is then a price level - it would be a weighted average of prices of the goods sold that day and weights would be equal to number of every good sold. Perhaps basket contains 100 liters of regular milk though only one frozen cake. Price of regular milk will then have a weight of 100 whereas price of frozen cake wold have a weight of 1. Changes in price of milk will then have a greater influence on price level than changes in price of frozen cake.
How has the Haberler''s theory of opportunity cost an improvement over the classical theory of trade
Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery
What is the Macroeconomics? Macroeconomics is study about the aggregate behavior of the economy like how the actions of all the individuals and firms within the economy intera
Random sampling is a technique for sampling which we can select a group of subjects or a sample for study from a larger group or a population. Each entity individually is chosen en
The economic model forecasting involves estimating several simultaneous equations which are generally behavioural equation mathematical identities and market clearing equations. T
A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above?
importance of monopolistc competition in Indian market.
What?
How would the price mechanism decide resource allocation in a competitive (free) market? The main issue it to explain how the price mechanism has a signalling, rationing and ince
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