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    Which kind of monetary policy would you expect in response to high inflation: expansionary or contractionary? Why?

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Questions & Answers

what's marginal utility?
Abena Reply
the additional utility you get if you can consume one more unit of the good x
Luka
Thanks... then what's the law of diminishing marginal utility ?
Abena
The utility decreases with every unit you consume (most of the time). The first unit of consumption will therefore give you the highest utility. Sorry about my english
Luka
Okay... I understand now
Abena
Great!
Luka
What is economies of scale
Jeremiah Reply
In microeconomics, economies of scale are the sum of total costs saved or that a firm has advantage over its competitors due to its scale of operations. More specifically, it is the firm's cost savings per unit of output that it gains as its production increases in scale.
Ernest
one of the leading industrial nations of the world ranking second in manufacturing output after the USA is ......... a. Russia b. Germany c. Britain d. Japan
Lawal
what is supply of demand?
Joseph Reply
supply of demand?
Yuusuf
1)importance of internal trade. 2) international trade barriers 3) principles of international trade
umar Reply
how can tell me about the GDP
Mahmood
explain the basic economic concept using ppc ?
Nurul Reply
scarcity can be represented by imagining a country producing only 2 goods and the resources to do so are fixed, hence a choice must be made and how to divide the limited resources between the two goods. you can choose any combination of the two goods that fall directly on the curve which represents
Justin
maximum efficiency and the highest possible output at this point in time. if you choose to not utilize all the resources then you will be inefficient (not to your best ability) and produce below the curve. however if you have increases in technology or find new resources you can shift the curve out
Justin
Please what is meant by resources allocation
albert Reply
Please I need explanation about resources allocation
albert
what is cost
Mohit Reply
Cost:-is the sacrifice or measured price paid to acquire, produce or maintain a good or service
Yuusuf
exactly
Emmanuel
thanks
Yuusuf
To what extend is labour, capital, land and entrepreneur considered as free good
Prince
#what is public finance
Ryan Reply
public finance is the study of how the government generates and spends to facilitate the day to day operations. simply put its an analysis of the income/expenditure statement of the government and how it affects welfare
Justin
#kk fenks
Ryan
you say it all
Emmanuel
what is economic model
chantal Reply
it may differ as different economist model ,but as to me it is a formal presentation of economic theory.
miidhagaa
what are the factors affecting utility
Silas
compare the ways in which resources are allocated in market and command economies
stella Reply
is profit maximization the only6 objective of private sectors
Alain Reply
no
KOPO
it's so difference way
Gohaan
pls can u guys tell me y it not....
Alain
there is equally prestige, sales managment, to solve unemployment, to maximize capacity
Jacque
"in the private sector profit maximization is the main but not the only goal of the firm"discuss pls
Alain
what is the difference between a co-operative and joint stock copany
Ndi
a join stock company is one in which there is a large number of shareholders who provide the capital in varrying proportion while a cooperative society is a non profit making organization that is owned and directly control by it member.example are producers cooperative...
Alain
thank Alain Aji
Ndi
Another one what Is Nationalisation
Ndi
Nationalization is the process of transforming private assets into public assets by bringing them under the public ownership of a national government or state
Alain
that's right thanks
Ndi
and what is Nationalised industry
Ali
what are the principle of governing a cooperative
Ndi
these are business organizations,which were created by individuals but taken over by the government.
Ndi
i agree your opinion
Hi
Greetings
Dango
What's National income
Dango
reduction of risk also
Ibrahim
why is economics different from pure science...
Jacque Reply
it's because the methodology is scientific in nature,for example we have economics in geography,history,but with pure science it deal with the nature..
Alain
science uses logic to study and systematic method and economic uses practical methods to deal with d current economic scenario
shaikh
but it is said in general that it is a science ...why?
Jacque
because it only deals with human behavior
Ibrahim
Economics is a science since it use some scientific methods but not as pure science that's why it's refers as social science
Yuusuf
Mister Kay. Economics is a (Social) Science. It deals with human beings and uses a systematic and logical body of theories, laws and assumptions to study and interpret human behaviour in the face of choice making in an environment where resources are naturally scarce, insufficient or unavailable.
Kolawole
economics is considered different from the pure sciences such as chemistry and physics for the simple fact that it can't be isolated in a lab or test tube and studied. in economics we can't control all the variables and study the effect of the outcome of tweaking just one variable.
Justin
hence it's not a perfect science. to make up for this we use the assumption of ceterius paribus or holding all else constant. In the real world it's dynamic and we can't isolate for eg a change in income on demand holding all else constant (prices of goods, etc)
Justin
What is the relationship between quantity demanded and quantity supplied at equilibrium? What is the relationship when there is a shortage? What is the relationship when there is a surplus?
Sualihu Reply
When QS greater than QD, it costed the price to drop
Zeyi
equilibrium is the market price
Zeyi
at equilibrium, demand meets supply, thus a right price , good enough to ensure no waste of supply or shortage of demand
Foluso
The relationship between quantity demanded and quantity supplied at equilibrium is that there is satisfaction between supply and demand. Prices increases when there is increased in demand and vice versa.
Muhammad
what is expenditure of consumer
Patrick Reply
Consumer spending, consumption, or consumption expenditure is the acquisition of goods and services by individuals or families. It is the largest part of aggregate demand at the macroeconomic level. There are two components of consumer spending: induced consumption and autonomous consumption. ...
richard
found this hope it helps. :)
richard
how can we calculate price elasticity
Bijaya
okey thank you
Bijaya
How can we calculate price elasticity?
Sualihu
% change in qty demand over % change in price
Keith
the volume of people who are willing and able to pay for a good or a service
Shadreck Reply

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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