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for a common man, the term market means a place where buying and selling of goods take place.. but in economics, the term market refers to place where both the buyers buy and sellers sell products at a agreed price..both need not meet each other,,the buying and selling may even take place over phone,internet etc...
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What do economists mean by the term sticky wage?
it is par day wage
Why do Economist use the term demand to refer to what?
Economists use the term demand to refer to a schedule of various combinations of market prices and amounts demanded.
When the market does not result in an efficient allocation of scarce resources economists call this?
market failer
Economists use the term marginal utility to mean?
additional satisfaction gained by the consumption of one more unit of a good.
What do you mean by capital market?
capital market is a market where long term loans are availble that place called capital market
What do economists mean by the term sticky wage?
it is par day wage
Why do Economist use the term demand to refer to what?
Economists use the term demand to refer to a schedule of various combinations of market prices and amounts demanded.
When the market does not result in an efficient allocation of scarce resources economists call this?
market failer
Economists use the term marginal utility to mean?
additional satisfaction gained by the consumption of one more unit of a good.
What percentage of economists in the USA are Keynesian versus Free Market?
Keynesian economics is free market
What do you understand by the market?
market failure is a term used in Economics to denote a condition in which free markets are not able to perform under the certain preassumptions made by economists. The main four reasons for market failure are monopoly power,externalities,public good and information failure.
What do you understand by market?
market failure is a term used in Economics to denote a condition in which free markets are not able to perform under the certain preassumptions made by economists. The main four reasons for market failure are monopoly power,externalities,public good and information failure.
What do you mean by capital market?
capital market is a market where long term loans are availble that place called capital market
What does the term secondary market mean?
The term secondary market refers to a financial market where stock, bonds, and futures are sold. A secondary market also refers to used goods and objects.
Economists associate Adam Smith with a?
Adam Smith is associated with a market economy.
What is the basic task that economists expect the market to carry out?
deal with the fundamental problem of scarcity
When economists say that people act rationally in their self interest they mean that individuals what?
When economists say that people act rationally in their self interest they mean that
