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Rationale in era of globalisation: In the present era of globalisation where countries have unprecedented access to international capital flows and where those who have borrow
When is the price of a product demand determined? The price of a product is demand defined while the product is in fixed supply. This means that the price of the product is defin
Three factors that determine demand for coffee and tea
The Free Enterprise: Price System The free market system is where the decision about what is produced is the outcome of millions of separate individual decisions made by cons
argument against in favour of traditonel theory profit maximisation
Q. Strength of the multiplier in microeconomics? Multiplier: An initial stimulus to spending (in form of new consumer, business or government purchases) generally results in a
Demand Function The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product
INDIVIDUAL DEMAND * Price Changes - Using figures developed earlier, the impact of a change in price of food can be shown by using indifference curves. Effect of Price
what is stagnation thesis?
Elasticities of supply and demand Other Demand Elasticities – Income elasticity of demand calculates the percentage change in quantity demanded resulting fro
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