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Card 6 / 8:
How can high-income countries benefit from covering much of the cost of reducing pollution created by low-income countries?
The course author didn't provide an answer for this question
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Questions & Answers
How does one analyze a market where both demand and supply shift?
That's equilibrium market
Ramon
but an equlibrum can appear twice on the same market...
both in Movement along the Demand/supply curve of shift in the Curve
Gabriel
I Mean on the same curve..
Gabriel
How can we analyze the effect on demand or supply if multiple factors are changing at the same time—say price rises and income falls?
because of fall of income, less will be demanded and much will be supply as a result of price rises. Rise in price always motivate new supplier to enter into the system. But it only possible in the short run
Kweku
yeah..
I think Ceteris Paribus is applied in this case
Gabriel
that is the law of Demand is Inversely related to the law of Supply...
so that mean a positive change in demand may produce a negative return to supply I think.
Gabriel
what are the difference between Wants and Needs
When the price is above the equilibrium, explain how market forces move the market price to equilibrium. Do the same when the price is below the equilibrium.
Gabriel
economic problems
Manishankar
yeah please Explain
Gabriel
I don't know this is my question
Manishankar
no it was a mistake...😂😂
can you explain how Wants and needs differs 😌
Gabriel
wants is what human desire but might not need them, human want are mostly articles of ostentatious
while need is what human must get to live e.g inferior goods
Ramon
what are the importance of studying economics
To know if the country is growing or not through the country's GDP
Ariel
to manage our resources
TOBI
compare base years GDP and the current years GDP
james
To tell whether a country is growing there are many factors to be considered not necessarily only the GDP due to weaknesses of GDP approach
james
What is the law of demand
price increase demand decrease...price decrease demand increase
Mujahid
ıf the price increase the demand decrease and if the demand increase the price decrease
MUBARAK
all other things being equal, an increase in demand causes a decrease in supply and vice versa
SETHUAH
how is the economy of usa now
Johnson
Demand is the quantity of goods and services a consumer is willing and able to purchase at various prices over a given period of time.
Yaw
Okay congratulations I'll join you guys later .
Aj
demand is the quantity and quality of goods and services a consumer is willingly and able to purchase at a particular price over a given period of time.
TOBI
calculate elasticity of income exercises
If potatoes cost Jane $1 per kilogram and she has $5 that could possibly spend on potatoes or other items. If she feels that the first kilogram of potatoes is worth $1.50, the second kilogram is worth$1.14, the third is worth $1.05 and subsequent kilograms are worth $0.30, how many kilograms of potatoes will she purchase? What if she only had $2 to spend?
cause of poverty in urban
QI: (A) Asume the following cost data are for a purely competitive producer:
At a product price Of $56. will this firm produce in the short run? Why Why not? If it is preferable to produce, what will be the profit-maximizing Or loss-minimizing Output?
Explain. What economic profit or loss will the
money is any asset that is generally acceptable for the exchange of goods and for the settlement of debts
Mnoko
money is a generally acceptable asset used for the settlement of debt and exchange of goods and services,its also flexible
TOBI
economics is the study of ways in which people use resources to satisfy their wants
Falak
what is Economics
ERNESTINA
The study of resource allocation,distribution and consumption.
Emelyn
introduction to economics
welfare definition of economics
Uday
examine the wealth and welfare definitions of economics
Uday
read book by ml jhingan
Anand
What do we mean by Asian tigers
Dm me I will tell u
Shailendra
What is Average revenue
KEMZO
it is so fantastic
metasebia
it is a group of 4 countries named Singapore, South Korea, Taiwan and Hong Kong
because their economies are growing very faster
Anand
Please, average revenue is an amount of money you gained after deducted your total expenditure from your total income.
EDWARD
Source:
OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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