Demand, in economics, is the quantity of a good or service that consumers are ready and able to buy at a given price. Needs and desires drive consumer... See full answer below.Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our...
Define market, demand, and supply. What does "demand" refer to as it is used in economics? If aggregate demand is greater than Aggregate supply. What will be the effect? An aggregate demand curve ___. What does it mean to say that the demand for a factor is "derived" demand? What ...
We use efficiency, more or less as the term is used in economics, for maximizing the aggregate of individuals' welfare as that welfare would be construed by the individuals themselves—in economic jargon, "Maximize the sum of individual utilities," or "Maximize net benefits." Another roughly ...
Economics is the study of choices. Though some believe that economics is driven purely bymoneyor capital, the choice is much more expansive. If the study of economics is the study of how people choose to use their resources, analysts must also consider all of their possible resources, of whi...
Oeconomics (n.) See Economics. Oeconomy (n.) See Economy. Oecumenical (a.) See Ecumenical. Oedema (n.) A swelling from effusion of watery fluid in the cellular tissue beneath the skin or mucous membrance; dropsy of the subcutaneous cellular tissue. Oedematous (a.) Pertaining to, or of...
In economics, it is said thatinflationplays an important role in deciding this cost. The higher the inflation, the higher would be expectations of the capital providers. Else they may opt to consume or invest somewhere else. TAGS Capital BudgetingCost of CapitalDiscount Rate ...
Scarcity in Economics | Definition, Graph & Examples from Chapter 1 / Lesson 6 467K Learn about scarcity. Understand what scarcity is, review its implications in economics, examine a graph of scarcity, and see some examples of scarcity. Related...
What is "expansionary policy" in the context of economics? What are the reasonable criteria by which overall monetary policy in the US should be judged? In economic terms, define what money is. Give five examples of expansionary monetary policies. What is the difference between monetary policy ...
Why is this concept important in economics? What factors shift the supply and the demand curve for foreign currencies? Define and differentiate change in demand and change in quantity demand. So Factor demand is a derived demand. Explain this. Also, where is this demand...
d) Does the mainstream economics recognize their importance for econ Explain how can an exporter can hedge its foreign exchange risk. Describe alternative forms of capital inflow to finance external deficits, and explain why these methods were used in different times. Explain how to d...