The sum of the value of all final goods and services produced within a country and net factor income from abroad is termed as Continue reading →
If demand equation is given by D = 1000 – P and the supply equation is given by S = 100 + 4P, price will be: Continue reading →
The rate at which the consumer can trade one good for another is termed as marginal rate of substitution in Continue reading →
The hypothesis that ‘consumption in one period would be a function of income in that period and the returns on savings of the previous period’ is given by Continue reading →
