Some areas haverent ceilingsto protect renters from rapidly climbing rates on residences. Suchrent controlsare a frequently cited example of the ineffectiveness of price controls in general and price ceilings in particular. Rent controls were widely implemented in New York City and throughout New York...
Intel Corp. (INTC) and Advanced Micro Devices Inc. (AMD) are an example of a duopsony. Combined, they command nearly 100% of sales in the computer processing chip market and have substantial influence over their suppliers. Duopsony is also known as a "buyer's duopoly" and is related to...
Understand what is insurance, its types and benefits and 7 most important principles of insurance. Questions on insurance and its principles are asked in insurance exams such as LIC exam, NICL, NIACL etc. It is also important for the Bank exam, SSC exam
Know about the different types of Computer and their functions based on their size and purpose. Get sample questions based on Computer Types and prepare for Government exams 2023
Three types of dumping: Sporadic dumping:This dumping occurs when businesses dump extra unsold inventory to evade price wars in their domestic... Learn more about this topic: Dumping in Economics | Definition, Effects & Examples from Chapter 3/ Lesson 28 ...
Economies of scale are a reduction in the per-unit cost to produce an item due to an increase in the number of units produced. An inverse relationship exists between the per-unit cost (which will grow smaller) and the number of units produced (which will grow larger), with the fixed co...
Cost objects are most often categorized or differentiated based on the specific function or role they have within an organization. A few examples of cost objects include machinery and packaging used in production, the employees required to assemble products or operate equipment and the customers whom...
Elasticity, in general, is the responsiveness of one variable due to a change in a different variable. In economics, the concept of elasticity helps us understand how demand and supply change due to changes in related variables, such as income, price, and more. Generally, when we talk about...
What is Pricing? It is a process of determining the value that a manufacturer will receive in the exchange of services and goods. Stay Tuned to BYJU'S, to learn more.
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