10 Questions on Consumers Behaviour (Economics)
“Section A” Questions on Consumers Behaviour 1. If the price of commodity Y decreases, all other things remaining constant the consumer equilibrium quantity will a. increase b. decrease c. remain …
Economics
Consumer Behaviour – Theory of Consumer Behaviour
Theory of Consumer Behaviour assumes that you can only order or arrange your preference in order of priority, you cannot quantify the level of your satisfaction. After reading this summary, …
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Elasticity Of Demand – Types of Elasticities
Elasticity concepts generally deal with the response(s) of demand or supply to its determinant; in the course of our discussion of demand and supply, their determinants were discussed. The Elasticity …
Supply And Demand | Price Theory
The concept of price theory came into being as a concept of valuation, i.e. the medium through which values are attached to goods and services. The concept of price theory …
Basic Economic Problem
Scarcity | Choice | Opportunity Cost Three big questions summarise the scope of economics- How do choices end up determining what, how, and for whom goods and services are produced? …
Monetary Policy – Objectives of Monetary Policy
Monetary Policy Monetary policy refers to the combination of measures designed to control the supply of money and credits conditions in an economy for the purpose of achieving macroeconomic goals. …