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What else can I help you with?
When economist refer to a products usefulness they use the term?
Utility
Why do economist use percentage change to calculate elasticity of demand?
They use percentage change because of the nature of the unit being described. The elasticity of demand specifies how much percentage demanded changes in response to a 1% increase in price.
What is word for the result of having too little of a product to meet the demand for it?
Scarcity is the result of having too little of a product to meet the demand for it.
Why do economics use the term low when they describe demand?
Economists use the term "low" to describe demand when the quantity of a good or service that consumers are willing and able to purchase is below expectations or historical averages. This can occur due to various factors, such as decreased consumer confidence, higher prices, or shifts in preferences. Low demand often indicates potential economic issues, such as recessionary trends, and can lead to surplus inventory and reduced production. Understanding low demand helps businesses and policymakers make informed decisions to stimulate economic activity.
How would an economist use supply-and-demand analysis to explain the increase in the price of gasoline in the US right after Hurricane Katrina?
An economist (or anybody who really thought about it for a moment) would say that Katrina destroyed many fuel storage facilities and refining resources along the Gulf Coast. Additionally, transportation to get the fuel out of the area was also interrupted for quite a time.This cause a transient but serious shortage of fuel ... the supply went down, so the price went up.
When economist refer to a products usefulness they use the term?
Utility
Who was the economist was the main promoted the use of demand management techniques to control the economy?
Adam Smith
Why do economist use percentage change to calculate elasticity of demand?
They use percentage change because of the nature of the unit being described. The elasticity of demand specifies how much percentage demanded changes in response to a 1% increase in price.
How do economist use the term guns or butter'?
Practical limits on spending. You have enough money to buy one or the other, but not both.
How do economist use math?
Economists use math to calculate statistics in sales and business profits. Economists also use math to predict trends in supply and demand.
What term does one use to refer to a dead US president?
I can not think of any special term . Sometimes the term "dead presidents' is used to refer to money.
What is the term you use refer to the lines of longitude?
Those are 'meridians'.
What term do you use to refer to wireless internet?
wi-fi
What term do scholars use to refer to biological differences between man and woman?
Scholars use the term "sexual dimorphism" to refer to biological differences between men and women. This term encompasses differences in physical characteristics such as body structure, reproductive anatomy, and hormonal profiles.
What is the term geographers use to refer of the half of the earth?
Geographers use the term "hemisphere" to refer to half of the earth, with the most common divisions being the Northern Hemisphere and the Southern Hemisphere, separated by the equator.
What term do geographers ues when they refer to the landmasses of Europe and Asia as one?
They use the term Eurasia.
What do economist's use?
I don't know dude
