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What is an effective need of demand1. An Effective Need: Effective need demands that there must be a need supported by the capacity and readiness to shell out. Henceforth there are three basics of an effective need: a. The individual must have a need to attain a specific product. b. He should have enough funds to pay for that product. c. He must be willing to part with these resources for that commodity.
Q. Cheapening of Materials and Equipments? Expansion of an industry increases the demand for different kinds of materials and capital equipments. This will result in large scal
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Explaination of the Marris Model
I can''t figure out the economic model of a company that I''m supposed to write a report about. The company is a tier 2 supplier, and over the years has bought out several subsidia
For some time, two firms have charged $0.90 per standard unit of crating materials for shipping a particular type of machine tool and each has been selling about 20,000 units per m
PUBLIC SECTOR BORROWING REQUIREMENT (PSBR) Public Sector Borrowing Requirement (PSBR) is the amount which the government needs to borrow in any one year to finance an excess e
Suppose that the price elasticity of demand for cereal is -0.75 and the cross-price elasticity of demand between cereal and the price of milk is -0.9. If the price of milk rises by
The demand curve Suppose that starting from a condition of equilibrium, the price of X falls relative to Y. We now have a condition where the utility from the last shilling s
Imagine of these concepts (markets, elasticity, production, costs, market structures). Take one or two of those concepts and use it to examine and understand economic situations o
Other Determinants 1. Rate of Interest Is contained in the argument of the classified economists who argued that rational consumers will save more and consume les
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