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The individual demand curve is downward slopping use income and substitution effect to explain?
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∙ 14y ago
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∙ 14y ago
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How does the principle of diminishing marginal utility explain the slope of the demand curve?
The principle of diminishing marginal utility explains the slope of the demand curve by letting us be able to see which direction the slope is in, which is always downward.
Define Micro economics and explain their merits and demerits?
microeconomics seeks to explain the working of individual prices, wages, particular industries. merits of microeconomics: 1. formulating economics policies and scare resource of the country 2. achieve maximum output with minimum input.
What is indiference curve and explain it?
curve that maps an individual's alternative combinations of goods where they receive the same amout of utility. It shows all the points where one is satisfied to the same extent with different combinations of goods (usally two on a graph)
Why economic growth is not sufficient indicator for development?
Economic growth is just a key for development but not satisfactory indicator because its it does not consider the individual development of the mass of the member of state. It just explains the raise in per capital income which is at national levle and not individual level for incitance it does not explain about life expectance,human development index,physical quality of life index ect
How do you explain the law of variable proportion?
Explain the Law of Variable Propotion
Explain the subsititution and income effect of decrease in price?
substitution effect is the explanation for the downward slope of the aggregate damnd curve.
Explain why the constant elasticity of substitution is considered superior to marginal rate of technical substitution?
Heap
What is the concept of individual differences?
Individual differences refer to the unique traits and characteristics that distinguish one person from another. These differences can include personality traits, intelligence levels, skills, abilities, and experiences. Recognizing and understanding individual differences is important for educators, psychologists, and employers in tailoring their approaches to meet the specific needs and preferences of individuals.
Can I get Free Psychology answers about how to be a Psychologist?
What are the four principle components of a neuron? Explain their individual functionWhat are the four principle components of a neuron? Explain their individual function
How entrepreneurship leads to import substitution and utilization of local resources?
Explain how entrepreneurship can lead to import substitution and utilization of resources
Explain how substitution works in mineral structures?
Ions of similar size can readily substitute for one another without disrupting a mineral's internal framework.
A newborn is diagnosed with sickle-cell anemia explain to the parents how the substitution can have such a drastic effect on the structure of the protein?
n i g g e r s
How would Psychoanalytic Theory explain how an individual may develop alcoholism?
http://www.niaaa.nih.gov/ == == Pretty much a waste of time.
What is the potential impact of an outbreak of infection on the individual and the company?
Explain the potential impact of a outbreak of infection on the individual and the organisation
Explain how horses causes a rope wave?
Hoses cause a rope wave when you grasp their ends in each hand, and Whip them downward and upward repetitively.
How can an individual identify as belonging to a number of different groups?
explain how an individual can identify themselves as belonging to a nimber of different groups
The purpose of an average is to represent a group of individual values in simple and concise manner so that the mind can get a quick understanding of general size of individual in the group Explain?
The purpose of an average is to represent a group of individual values in simple and concise manner so that the mind can get a quick understanding of general size of individual in the group. Explain.
