State the factors affecting the price elasticity of demand? The type of product will affect the price elasticity of demand i.e. a necessity such as petrol will have a inelastic demand as it is a must have for consumers so a change in price will cause only a minor change in price whereas if a product is not a necessity for consumers it will have an elastic demand meaning a small change in price could lead to a greater change in quantity demanded The proportion of the consumers income spent on a product
Premium Supply and demand Price elasticity of demand Elasticity
must meet two basic concepts of economics these are Microeconomics and Macroeconomics and to get to know these concepts is necessary to know which is the economy and economics is the science that studies human behavior and trade ‚ sales tax‚ receipt of wages‚ credit‚ is the science of the usual business of the above are some definitions that can be found in the economy as such. In this research we can differentiate macroeconomics microeconomics its relationship to the economy to serve both‚ we can
Free Economics Macroeconomics
INTRODUCTION 1 Factors in Career Choice 1 PROBLEM STATEMENT 2 OBJECTIVES OF RESEARCH STUDY 2 RESEARCH QUESTIONS 3 SIGNIFICANCE OF STUDY 3 ASSUMPTIONS 4 LITERATURE REVIEW 4 Environment 4 Opportunities 5 Personality 6 DELIMINATIONS 7 HYPOTHESIS 8 POPULATION 8 SAMPLE AND RESPONSE RATE 8 DESCRIPTION OF THE INSTRUMENTATION 8 DATA COLLECTION 9 DATA ANALYSIS 9 REFRENCES 10 ABSTRACT Many factors affect career choices of college students. Identifying these factors would give
Premium Management Strategic management Marketing
Lesson 4 1. If an economy produces final output worth $5 trillion‚ then the amount of gross income generated by that production: is $5 trillion 2. Which of the following would not be ian expenditure on a final good or service? a medical clinic’s purchase of flu vaccine 3. Which of the following would be included in GDP? payment of the monthly telephone bill by Mr. Laconic 4. Consumption in the expenditures approach to calculating GDP includes: purchases of medical services at the local clinic
Premium Management Project management Risk
Chapter I THE PROBLEM AND ITS BACKGROUND Introduction Education is everyone’s concern. In 1990‚ the United Nation Education‚ Scientific and Cultural Organization (UNESCO) launched Education For All (EFA)‚ the movement to provide quality education for all children‚ youth‚ and adults globally by the year 2015. The right to education is universal and extends to all children‚ youth and adults with disabilities. This right is enshrined in the Convention on the Rights of the Child (1989) and the
Premium Education Audiogram Hearing impairment
Macro-Economics What is Macroeconomics? Macroeconomics studies the behaviour of the entire economy‚ and how resources are allocated. It examines economy – wide phenomena such as changes in unemployment‚ national income‚ rate of growth‚ gross domestic product‚ inflation and price levels. Macroeconomics deals with 5 variables: Variable Macroeconomic objective Economic growth A steady rate of increase of national output Employment A low level of unemployment Price stability A low and stable
Premium Inflation Economics Gross domestic product
ECS2730 ASSIGNMENT Question one a) Different sources had varying figures in terms of acquiring the macroeconomic variables. b) The following graph show the GDP growth rate‚ GDP per capita growth rate and the inflation rate of Nigeria. From the graph it is not easy to see the changes (in terms of figures) in the variables therefore‚ the table below shows how the above variables have changed over time. Year Real GDP growth rate (annual %) GDP per capita growth (annual %) Inflation
Premium Inflation Monetary policy United States public debt
Circulation in macroeconomics Macroeconomics (from Greek prefix "makros-" meaning "large" + "economics") is a branch of economics dealing with the performance‚ structure‚ behavior‚ and decision-making of an economy as a whole‚ rather than individual markets. This includes national‚ regional‚ and global economies.[1][2] With microeconomics‚ macroeconomics is one of the two most general fields in economics. Macroeconomists study aggregated indicators such as GDP‚ unemployment rates‚ and price
Premium Gross domestic product Economics Macroeconomics
Fundamentals of Macroeconomics Paper ECO/372 Fundamentals of Macroeconomics Paper Part 1 * Gross Domestic Product (GDP)- is the market value of all goods and services within a country in a period of time (Hindsight). * Real GDP- account for changes in the price level‚ an adjusted measure compared to Nominal GDP. * Nominal GDP- When a GDP figures that has not been adjusted for inflation. * Unemployment Rate- The rate is measure of unemployment citizens by dividing the number
Premium Inflation
Factors affecting the movement of water through osmosis Introduction In this I will be investigating what effects the movement of water through osmosis. Osmosis is the diffusion of water. It is the process in which fluids pass through a partially-permeable membrane. It is the movement of water from high water concentration to low water concentration. Plant cells react to osmosis by hypertonic‚ isotonic and hypotonic. Keywords Hypertonic – is when the water outside of the cell is lower than
Premium Osmosis Concentration Cell wall