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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.
(a) Describe how commercial banks determine their output, interest rates and profit levels assuming they act as oligopolies. (b) To what extent is the above statement a reality
Analyse The Method By Which a Firm Can Allocate The Given Advertising Budget Between Different Media Of Advertisement
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
Q. Show the uses of income elasticity? A few significant uses of income elasticity are as follows: First, concept of income elasticity can be used to approximately compute t
on the application of any of the concepts learnt in Managerial Economics. You may try to use these concepts to everyday problems in life or in any of the current debates on in the
Q. Availability of Substitutes - Determinants of Demand? One of the most important determinants of elasticity of demand for a commodity is availability of its substitutes. Clos
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
A firm supplied 3000 pens at the rate of Rs 10. Next month, due to a rise of in the price to 22 rs per pen the supply of the firm increases to 5000 pens. Find the elasticity of sup
The Social Cost of Unemployment i. For the individual, there is the demoralizing effect which can be devastating particularly when they are old. This is because as some
Explain a circular flow of income in a frugal econmomy with diagram
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