Other Economics Answers

How does culture affect the economic system

20. How does the price, quantity and total revenue at the equi librium change when: a) the demand increases and the supply is fixed, b) the supply decreases and the demand is perfectly elastic?

What have been the reasons for employment decline for the Indian economy in the period of the pandemic? Is the decline indicative of a temporary disruption due to the pandemic or do you see a continuity and exacerbation of an already established tendency of jobless growth?

Based on the chili market conditions in the Sunday Market, the demand curve and the curve

Chili offers are as follows:

Chili Demand Curve Qd = 16 – P

Chili Supply Curve Qs =P + 2

Define:

a. Equilibrium price (Pe) and Equilibrium Quantity (Qe) of chili sold

b. Describe the condition of the chili market at Pasar Minggu based on the results of questions a)

c. If the government sets a maximum price of 4 (four) what is the excess demand? Describe the condition of the chili market in the Sunday market based on the results of questions from a) and b)

1. With help of a diagram, explain the impact of decrease in 1 product only. Please provide example (products etc as assumptions) to explain the impact.

2. By providing an example and with the help of a diagram, explain the impact of start allowing free labor migration between 2 countries.

Qd = 1400 – 10P;

What happens when the COEFFICIENT b (now set at 10) is the one that changes?

Illustrate explanation through a graph.

Do you think that tariff system should be abolished so imported products can reach broader audience? Why?

It is about time to change the USD as our universal universal currency based on the Bretton wood system?

Is conglomeration beneficial to society and economics? Explain your answer.

What is a Hubbert curve? Draw an example of a typical hubbert curve. Be sure to include the x and y axis label.