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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.
Managerial Economics helps create utility for the Society.
Q. Show the example on transaction cost theory? Coase begins from standpoint that markets could in theory carry out all production and that what needs to be illustrated is th
Characteristics of Money Over time, therefore, it became clear that for an item to act as money it must possess the following characteristics. Acceptability If
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
I would like to get the answer to the question - Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a numb
The nature and function of money The development of money was necessitated by specialization and exchange. Money was needed to overcome the shortcomings and frustrations of t
Question : i) Consider a discriminating monopolist is selling a product in two separate markets in which demand functions are: P 1 = 6 - Q 1 P 2 = 18 - 2Q 2 The mono
what is traditional theory of cost/explain with suitable diagram
A company is selling a particular brand of tea and wishes to introduce a new flavor. How will the company forecast demand for it.
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
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