Author: admin
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What is Factor Income and Transfer Income?
Macroeconomics is a part of economics that focuses on how a general economy, the market, or different systems that operate on a large scale, behaves. Macroeconomics concentrates on phenomena like inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment. “Macroeconomics is that part of economics which studies…
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Basic Concepts of Macroeconomics
Macroeconomics is a part of economics that focuses on how a general economy, the market, or different systems that operate on a large scale, behaves. Macroeconomics concentrates on phenomena like inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment. “Macroeconomics is that part of economics which studies…
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Introduction to Macroeconomics
Macroeconomics is a part of economics that focuses on how general economies, markets, or different systems that operate on a large scale behave. Macroeconomics concentrates on phenomena like inflation, price levels, rate of economic growth, national income, gross domestic product (GDP) and changes in unemployment. “Macroeconomics is that part of economics which studies the overall…
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Price Ceiling and Price Floor
Price regulations are governmental measures dictating the quantities of a commodity to be sold at a specified price both in the retail marketplace and at other stages in the production process. These regulations act as control measures or emergency economic measures in the case of imperfect competition to prevent probable market failures. Table of Content [Show] Price…
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What is Market Failure
What is Market Failure? In economics, Market failure occurs when there is an imbalance in the quantity of a product demanded and supplied, which leads to an inefficient allocation of resources. The success of the market is mainly dependent on the effective allocation of resources. However, there are situations when markets fail to allocate these resources efficiently, which…
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Criteria for Good Demand Forecasting
Criteria for Good Demand Forecasting Demand forecasting can be effective if the predicted demand is equal to the actual demand. The effectiveness of demand forecasting depends on the selection of an appropriate forecasting technique. Each technique serves a specific purpose; thus an organisation should be careful while selecting a forecasting technique for a particular problem. Table…
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Techniques & Methods of Demand Forecasting
What is Demand forecasting? Demand forecasting is a process of predicting the demand for an organisation’s products or services in a specified time period in the future. Table of Content [Show] Techniques & Methods of Demand Forecasting Different organisations rely on different techniques to forecast demand for their products or services for a future time period depending…
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What is Demand Forecasting
What is Demand Forecasting? Demand forecasting is a process of predicting the demand for an organisation’s products or services in a specified time period in the future. Demand forecasting is helpful for both new as well as existing organizations in the market For Example, for various needs for demand forecasting in business organizations, a new organisation needs…
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What is Market Power
What is Market Power? Market power define as the ability of an organisation to raise the market price of a good or service over marginal cost to achieve profits. It can also be defined as the degree of control an organisation has over the price and output of a product in the market. A firm with total…
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Profit Maximization
Profit Maximization Definition Profit maximization can be defined as a process in the long run or short run to identify the most efficient manner to increase profits. It is mainly concerned with the determination of price and output level that returns the maximum profit. It is an important assumption that helped economists in the formulation of various economic theories, such…