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    zero inelasticity

    the highly inelastic case of demand or supply in which a percentage change in price, no matter how large, results in zero change in the quantity; vertical in appearance

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Questions & Answers

what is economic in terms of adam smith defination
Dhurba Reply
Formular for calculating Marginal cost?
Jason Reply
Change in total cost ÷ change in quality
Sneha
Change in total cost divided by change in quality
Sneha
percentage change in total cost divide by percentage change in total quantity
how
what about Average cost
silue
?
silue
average cost is equal to total cost divided by number of good produced. It is also equal to sum of variable costs plus average fixed costs.
Madhu
i do not know about the concept of elasticity of demand
anie
When price of a good falls it's demand increases and vice versa. but how much demand increases or decreases is not answered by law of demand. It is elasticity of demand which tells magnitude of change. This elasticity of demand is the degree of change in quantity demanded of a commodity when price
mohammad
of it changes
mohammad
Then read about the concept first
Madhu
AC is sum of AVC and AFC AC=AVC+AFC
mohammad
thanks @mohammad manzor
anie
and ask if didn't understand
Madhu
it's ok always at your service
mohammad
i understand
anie
start a new proponda of ECONOMIC ALLIANCES YOU are Ready
Javid Reply
start a new conversation
Madhu Reply
may anyone guide me how the financial market is linked to economics? in detail? and in simple language?
Gopal Reply
economics is all about money matter .where we use money has medium of exchange.
Madhu
Economics means optimim utilization of related factors which can be measured only by time and money
Rakesh
can anyone suggest how to put questions here?
Gopal Reply
Go on any topic for example perface
Rakesh
Then go at last and write in new conversation
Rakesh
why demand and supply equal
Ashitosh Reply
Demand equal to supply coz if supply more then price less and if price less then demand more also opposite​
Rakesh
M i right ?
Rakesh
if supply will be more then the demand, then price will fall down. same with the demand. if the demand is high, then price of the product will rise.. and equilibrium happens when both supply and demand are at equal level.
Gopal
ok thanks
Gopal
if supply is more we can store it . when the food scricty will not occur...
Madhu
and also there is group called fci(food coupration of India.)whenever there is food sacricty this council will provide food for needy people.
Madhu
If supply more then no any want to store because price will be less
Rakesh
Also can not store some products such as electricity.. Milk.. Fruits and vegetables and network
Rakesh
what is the scope of being an economist?
sheraz Reply
what is the scope of economics?
sheraz
Economies of scope is a term that refers to the reduction of per-unit costs through the production of a wider variety of goods or services.
Cette
good
Kranti
great
sheraz
but Cette I meant something else...
sheraz
I mean where can an economist find a job? I mean in which fields?
sheraz
u can work as research analyst and business consultant.
Gopal
market research analyst i mean to say.. u can find jobs in such as Deloitte, KPMG, JP morgan, or any other market research company. u can find it on google by just typing market research companies in your country
Gopal
U can decide to print amount of money .. Can decide the budget and can understand share market .. Means jobs anywhere to understand market trends means companies are going to long term benefits with social welfare with maximum utilization of related factors
Rakesh
Does trade war effect world economy growth?
Yes,it does
Madhu
yh it will
Cette
yup
sheraz
Yes it will create more problems to economy like food sacricty. and it affects towards production and loss through our national income or GDP.
Madhu
what is the difference between explicit cost and implicit cost
ustaz Reply
explicit cost:it is the cost which company made for purchasing or hiring resources from the factor owner. implicit cost : the cost of the owner of the company pay for the project.
دولت
explicit cost is that cost which is identified by the books of accounts of an organisation
Amulya
implicit cost is that cost which is not shown in the books of accounts but due to this cost organisation gets some benefits
Amulya
what is supply
Motunrayo
The willing and able to sells their goods in various price of a commodity is called supply.
Niraj
what are the laws of supply
Motunrayo
what is lonrenzo curve
osidele
What is price elasticity of demand?
Kanishka Reply
price elasticity of demand is a measure used in economics to show elasticity of quantity demanded of good or service to get a change in it's price while nothing but price changes.
Madhu
Price elasticity of demand is a measure of the change in the quantity demanded of a product in relation to its price change Price elasticity of demand = % change in quantity demand / % change in Price
Gaurav
Pls where can I found PRICE CONTROL on this app
Samuel Reply
top left corner
JUDE
A situation in an economy with one producer but many consumers
Kabali Reply
What is the theory of population according to Malthus?
Kabali
What is the Malthusian population theory?
Kabali
The Malthusian theory of population state that, where there are means of substinence like food, human beings have the tendency to procreate (ie.give birth) without restraint (ie. control).
George
he stated that population unchecked grows at a geometric progression ie 1,2,4,8,16 while the means food subsistence grows at arithmetic progression ie 1,2,3,4,5---- he declared that population has the tendency to outstrip the means of subsistence
Fung
What is money?
Kabali
money is any commodity that act as a medium of exchange
Fung
money is medium of exchange which is use in taking goods and giving some of it's worth or money value
Madhu
what is a debit card and a credit card?
Milly
a debit card is a payment card used instead of cash while purchasing
Madhu
a credit card is a payment card issued to users to enable cardholder to pay a merchant for goods and services
Madhu
oky tanx
Milly
good
ABDUL
What is an inferior good.?
Kabali
In economics, an inferior good is a good whose demand decreases when consumer income rises (or demand rises when consumer income decreases), 
Rams
in that case scarcity of food will occur
Madhu
what is monopoly
Richmond Reply
a market situation when there is only one seller of a product representing whole industry.
how
where one business is the dominant one in that market. It determines the market price as they are price makers. No entry, no competition.
karl
it is a market situation where is a single seller and many buyer hear the seller is the price maker the is no free entering and exit in this market
Fung
A situation in the economy where there is one producer and many consumers
Kabali
A market situation where there is one producer and many consumers.
Kabali
Balance of payments for 2018
Mahlatse 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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