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    ceteris paribus

    other things being equal

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Questions & Answers

can someone explain cardinal and ordinal utility for me please?
faith Reply
sir please explain industrial economist and its important
Priya
Please how can someone maximise profit in business?
Esther
how to calculate profit maximization
Daudi Reply
what is fiscal policy
Adewale Reply
it is the government policy in which uses expenditures and taxes to regurate the economy by applying either contractionary or expansionary FISCAL policy
Marcus
Hello. Please explain shortly
nourhan Reply
what happens when maximum price is placed above equilibrium price
Christian Reply
the demand curve falls
Ewerton
there will be excess supply
Emmanuel
explain the term : law of demand and it's function
Evacon Reply
law of demand state that the higher the price the lower the quantity demanded and vice versa
Moka
Está correto, sua função também é a de estabilizar o mercado do produto em questão, seu preço, sua produção, etc.
Ewerton
higher******
Umar
what are raw materials
Fatmah Reply
the basic material from which a product is made. "these could be used as raw material"
ADAMU
fatmah raw material, also known as a feedstock, oky is a basic material that is used to produce goods, finished products, energy, or intermediate materials that are feedstock for future finished products. just to make outputs.
ADAMU
oh yeah I got it .. thank you for your help 😊
Fatmah
hello my dear friends
Au
hello
Fatmah
hello
Muhammad
hy
Sortema
Any notes on ppf.?
George
can anyone clarify features of internal efficiency with reference to education
Sortema
raw material can also be said to be organic materials that haven't gone through any form of processing.
faith
in an open economy, the GDP is measured as ?
jacobs Reply
what is Labour of supply.
Eshmel Reply
it is called supply of labour
Emmanuel
it is the total number of those the producer is expected to employ at a given time and at an existing wage rate
Emmanuel
it is a sum number of employees the manufacturer wish to employ in a period of time , and at a given wage rate
Evacon
if the price of yam increases what will happen to demand curve?
Lawal Reply
the demand curve will decrease
Fatmah
with table and diagrametic illustration
Usama Reply
ok
Mustafe
if the price elasticity of demand for a commodity is zero the demand curve is
Aryan Reply
the demand curve is inelastic
Emmanuel
this is because price bring about a lesser change in quantity demanded
Emmanuel
how are we going to draw scale of preference
Achor Reply
how do we identify choice
Achor
how do we identify opportunity cost
Achor
opportunity cost is the forgone alternative. in oder words, it is the sacrificed goods or service for another. thus, the item you did not buy with the resources you have thereby buying another one is called opportunity cost. thanks
John
Opportunity cost considers only the next best alternative to an action, not the entire set of alternatives, and takes into account all of the differences between the two choices.
ADAMU
IAC curve is geueraly
Subham Reply
what are the benefits or tourism?
Maake Reply

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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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