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The elasticity of demand from an economic point of view is used to show the responsiveness of the amount of a goods or services to a change of price. It gives a percentage of change in quality.
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In contrast with classical economics keynesian economics does what?
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
In contrast with classical economics, Keynesian economics _____.?
takes a broader view of the economy
What type of view of economics did the Rational Expection School of Economics headed by Lucas and Sargent take?
macroeconomic
What type of view of economics did the rational expectation school of economics headed by lucas and sargent take?
macroeconomic
Which of these described the economic view of the chicago school of economics?
microeconomic
How useful are the concept of elasticity in running a business successfully?
By the concept of Elasticity in the context of running a business.. the best view is taken in the elasticity of demand. Goods and Services are either highly elastic or low elastic. A good with highly elastic demand will have higher changes to quantities demanded for relatively small changes in price. Whereas something with a lower elastic demand, will not have major changes in demand for a small change in price. So for example, the price of a diamond is highly elastic, a small change in say a fall of diamond prices will have a huge impact, whereas something like salt, an increase or decrease in price will not affect the amount demanded. Thats how useful the concept of elasticity is in running a business successfully.
Why is Austrian economics catching on so fast?
Austrian Economics is catching on because its a different school of thought. Basically it looks at things from a different point of view, it's not advocating a free market.
In contrast with classical economics keynesian economics does what?
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
In contrast with classical economics Keynesian economics .?
takes a broader view of the economy
In contrast with classical economics, Keynesian economics _____.?
takes a broader view of the economy
What type of view of economics did the Rational Expection School of Economics headed by Lucas and Sargent take?
macroeconomic
What type of view of economics did the rational expectation school of economics headed by lucas and sargent take?
macroeconomic
Is dialect a point of view?
No, it is not a point of view.
Is tripping fun?
It depends on your point of view. It depends on your point of view. It depends on your point of view.
What is omission point of view and objective point of view?
An omission point is this: ... A point of view is a way of thinking about something An opinion
Which of these described the economic view of the chicago school of economics?
microeconomic
What is the angle from which a story is told?
Perspective, or point of view. These two terms are synonymous.
