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Natural Factors: Seasonal variations may affect the demand for a commodity at certain times of the year. For example, during the raining season, demand for commodities such as j
unique product
What is a Market? Markets A geographically stated area where buyers and sellers interact or communicate to decide the price of a product or a series of products. Marke
Economics; Different Perspective ? Economics is the knowledge of the choices taken by people who are faced with scarcity. ? Scarcity is a condition
Q. Food purchases are relatively price inelastic since food is a necessity. If food is so required for life, how will we explain the heavy advertising of food items at the
As stock markets have crashed, and uncertainty has increased, consumers move their money to the safest currencies and countries in the world. Predict the effects of an increase in
Policy: Post-Communism Demolition of the Berlin Wall and take-down of the Iron Curtain hasn't significantly improved the situation in what are optimistically and euphemisticall
What is micro static analysis?
Problem: (a) Distinguish between fiscal and monetary policy, giving examples where appropriate. (b) Explain how fiscal and monetary policies might be used by a government
substitution and income effect on inferior good
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