3.1 Demand, supply, and equilibrium in markets for goods and  (Page 19/36)

 Page 19 / 36
• Card 19 / 36:
demand curve

a graphic representation of the relationship between price and quantity demanded of a certain good or service, with quantity on the horizontal axis and the price on the vertical axis

• Keyboard Shortcuts

 Previous Card ← Previous Card Button Next Card → Next Card Button Flip Card ↑ / ↓ / Return / Space

what courses the curve to move
is it possible to say scarcity is the out come of excessive greed on the part of human?
TU=3Q2-2Q+4.what is Total utlity maximize?
what is demand
Total utlity=3Q2-2Q+4.what is maximum TU?
Lema
Lema
Where can i find the Quizzes
what is ppf?
production possibility frontier
Alam
the production possibility frontier (PPF) is a curve that illustrates the variations in the amounts that can be produced of two products if both depend upon the same finite resource for their manufacture
Alam
thank you!
Ishimwe
it is the production possibility frontier
Brenda
In perfect competition, some firms make profit, others breakeven and others make losses. Explain
define law of demand and draw demand curve
state that the higher the price of a product the lower the quantity demanded
nonduduzo
what is the price elasticity of demand a unit free measure of the sensitivity of the quantity demand to a price change?
what is normative economics
In normative economics we try to understand whether a mechanism is desirable or not.
not
Mark
consider the market for chocolate chip cookies .suppose there is an increase in the price of cake flour used in the production of chocolate chip cookies . Demonstrate graphically and explain the effects this will have on the equilibrium price and quantity of chocolate chip cookies.
what is price demand?
what is the price demand ?
Alamin
what is cardinal approach?
Alamin
importance of elasticity to an economy
what is elasticity
elasticity refers to the measurement of a percentage change of one economic variable in response to a change in another. Primarily, this percentage change will follow a change in price relative to changes in other factors.
Abdullahi
When desire of goods increases what is the respond of its prices?
Then definitely price of Good will increase, As Demand has direct relation with the price
Alam
Right
abubakar