Seasonal demand can be consumer interest in purchasing particular products only during a specific period within the calendar year. For example‚ Christmas trees‚ most fruits‚ school books and uniforms‚ TVs‚ cards and tourism sector among others are subject to seasonal demand. There are certain problems that are associated with this kind of seasonal demand they include; Over stocking is one of the problems of this kind of demand. Seasonal demand poses problems for businesses because they have to build
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Department of Economics ECON 101 Quiz 3 09 August‚ 2011 Name:…………………………………………………………………………………. No:……………………………………………………………………………………… 1) In the short run‚ A) the size of the plant is fixed. B) all inputs are variable. C) all inputs are fixed. D) some firms experience increasing returns to scale. Answer: A 2) Points below a firm’s total product curve are A) both attainable and technologically efficient. B) neither attainable nor technologically efficient
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Chapter 22 The Demand for Money T 1) Multiple Choice The quantity theory of money is a theory of (a) how the money supply is determined. (b) how interest rates are determined. (c) how the nominal value of aggregate income is determined. (d) all of the above. Answer: C Question Status: Previous Edition 2) Because the quantity theory of money tells us how much money is held for a given amount of aggregate income‚ it is also a theory of (a) interest-rate determination. (b) the demand for money
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ME Assignments‚ TERM-1 ➢ LAST DATE OF SUBMISSION- 20.09.12 Roll no. Questions 12DM001 1.If the market demand curve is given by QD=15-8P and the market supply curve QS=2P‚find the equilibrium price & quantity graphically & mathematically. 2.Suppose the technology to manufacture computers improves but due to some recession in the economy ‚the income of the consumer falls. Assuming computers to be normal good‚ what will be the equilibrium price & quantity
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Euthanasia of Terminally Ill Patients Someone is being faced with a painful‚ incurable disease. They can either be allowed to choose a peaceful death or be forced to continue on while slowly forgetting their senses and loved ones. Euthanasia is the procedure of intentionally ending a life‚ in order to relieve pain and suffering. The word euthanasia stems from Greek and means “good death”. While some people believe euthanasia to be just an excuse for suicide‚ in reality it’s not. Euthanasia is
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Determinants of Demand The concept of Determinants of Demand has coined from the Economics. The financial section of the world is the transient one. With the change of situation‚ it also changes its phase. Based on this‚ the curve of Demand changes its position in the Demand Graph. By seeing the curve lines in the graph‚ economists can determine the present demand background in the financial arena. Starting from unlocking the demands of a country’s financial background to any particular firm’s demand‚ everything
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The law of supply and demand describes how prices will vary based on the balance between the supply of a product and the demand for that product (Wikipedia‚ 2005). If there is a balance between the supply‚ (the availability of the product)‚ and the demand‚ (how much product the consumers want)‚ then the price for the product would be considered good. If there is an imbalance‚ the price will change. According to Adam Smith‚ the invisible hand is a self-adjusting force in the market that corrects
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supply and demand Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic. The microeconomic topics would be the demand and supply curve. The demand curve shows how consumers would react to prices. The supply curve shows how landlords would react to price by how much units will sell. The outside company coming in and the price cap would fall under macroeconomic
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Supply & Demand Eco/365 December 17‚ 2012 Various factors‚ including fluctuations such as increases or decreases in prices‚ can cause a change in supply and demand as well. This paper will attempt to discuss different economic principles and factors and how they are affected by change. In the current situation‚ GoodLife Management manages seven rental properties in the city of Atlantis‚ and over the course of 7 years has to be flexible with its pricing due to
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about having implemented a minimum price on alcohol. It is visible that this policy has reduced drink related crimes such as sexual assault and drink driving. This is because the consumption of alcohol creates negative externalities. This includes things such as liver diseases and obesity. Crimes perpetrated against people‚ fell by 9.17% when increasing the price on alcohol of 10%. The evidence found concluded that introducing a minimum price on alcohol yielded major benefits before David Cameron
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