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    velocity

    the speed with which money circulates through the economy; calculated as the nominal GDP divided by the money supply

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Questions & Answers

what is total cost
Tommy Reply
variable cost + fixed cost
Asit
.
there's a picture of a bread being bought and the consumer got sick after eating it. the question was "identify the type of fallacy referred to the article
Jay Reply
what is indifference curve
egbebiyi Reply
what is utility
Labiba Reply
utility is the satisfaction derived from consuming a particular product.
taiwo
utility is the satisfaction a consumer derives from consuming a particular good
Chinenye
you are right
Ishaq
nice one chi
taiwo
you are right
Adebayo
thank you 🙏
Labiba
thanks
Chinenye
you are right
Nak
Demand refers to the various quantities of a commodity a consumer is willing and able to purchase at particular price with a period of time.
Clifford Reply
perfect
Labiba
Demand is refer to as the quantity of goods and services which a consumer is willing and able to buy at a particular point in time and at a given price.
taiwo
What is demand
Magdalene Reply
What is divided
Alfusainey Reply
It help us to no how to do with our money
Alfusainey
Demand curve us a graph showing the relationship between the price and quantity of a commoditiy demand
Alfusainey
Demand schedule is define as a table showing the relationship between prices and the quantity of that commoditiy demanded
Alfusainey
Demand may be defined as a quantity of good or services that consumers are walling and able to buy at a alternative prices
Alfusainey
The law of demand states that all things being equal the higher the price the lower the quantity that will be demanded vice versa
Alfusainey
The law of supply states that all things being equal the higher the price the higher the quantity of a commoditiy that will be supplied vice versa
Alfusainey
yes
Vinsaint
what is money
Siaw Reply
money is defined as the medium of exchange
jackie
money is anything that serves as a medium of exchange,measure of value and standard for deferred payment
Chinenye
money is legal tender that is use for buying good n service
Nak
Money is anything that has general acceptability as a medium of exchanging dabt
Alfusainey
Money is a legally or socially binding conceptual contract of entitlement to wealth, void of intrinsic value, payable for all debts and taxes, regulated in supply.
Nana
money is accepted material for buying and selling and also for payment of dept
Dora
what is economics
reekado Reply
what is the meaning of term depreciation
Niyogushimwa
I don't know tell me pls
Manuel
decrease in the valaue of currency is called depreciation.
Asit
managing the scarce resources is called economics 😉
Asit
definition of economics according to different scholars
Onesmo Reply
Economics is a science that studies human behavior as a relationship between end and scarce means which have alternative uses:by Davern spot
Dora
am I correct?
Dora
Yeah you tried
Donkiss
reason why we study economics
Moruf Reply
what is economics
Tutu Reply
economics is defined as the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.
Semiat
social science
Maxwell
Economics is a social science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
Maxwell
Yh ar right
Alfusainey
what is a gross domestic product
Amogelang Reply
Explain what is a production possibility curve
Sharon Reply
A curve that indicates the various production possibilities of two commodities when resources are fixed...
Geoffrey
what is market?
Jasmin Reply
ware the Byers and seller's that please is called market
suresh
a place where buyers and sellers meet
Tariro
I don't like this market definition.
Jasmin
market is any arrangement whereby buyers and sellers are brought together for the purpose of transacting business. It could be a geographical location or any other means such as internet, mobile phone etc. as long as buyers and sellers are brought together for the purpose of exchange.
Agusimba
A market is a place where buyers and sellers buy and sell goods through bargaining.
Jasmin
yes ,you are correct Agusimba sir.
Jasmin

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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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