opportunity cost;the loss of other alternatives when one alternative is chosen.
scarcity; limited availability of a commodity, which may be in demand in the market.
production possibility frontier;The production possibility curves is a hypothetical representation of the amount of two different goods that can be obtained by shifting resources from the production of one, to the production of the other. The curve is used to describe a society's choice between two different goods
steve williams answered the question on January 23, 2018 at 12:02
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What happens when there is decrease in money supply?
(Solved)
What happens when there is decrease in money supply?
Date posted:
January 23, 2018
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Answers (1)
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State some of the limitation posed by monetary policies employed by the central banks in developing countries
(Solved)
State some of the limitation posed by monetary policies employed by the central banks in developing countries.
Date posted:
January 23, 2018
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Answers (1)
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How does liquidity trap occur?
(Solved)
How does liquidity trap occur?
Date posted:
January 23, 2018
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Explain the phenomenon of liquidity trap
(Solved)
Explain the phenomenon of liquidity trap.
Date posted:
January 23, 2018
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Answers (1)
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Recognize the impact of monetary policy on aggregate demand
(Solved)
Recognize the impact of monetary policy on aggregate demand
Date posted:
January 23, 2018
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Answers (1)
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Justify expansionary and contractionary monetary policy.
(Solved)
Justify expansionary and contractionary monetary policy.
Date posted:
January 23, 2018
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Answers (1)
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Explain factors that prevent the money multiplier from working empirically as it does theoretically
(Solved)
Explain factors that prevent the money multiplier from working empirically as it does theoretically
Date posted:
January 23, 2018
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Answers (1)
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Explain how the money multiplier works in theory
(Solved)
Explain how the money multiplier works in theory
Date posted:
January 23, 2018
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Answers (1)
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Use the concept of market equilibrium to explain changes in the interest rate and money supply
(Solved)
Use the concept of market equilibrium to explain changes in the interest rate and money supply
Date posted:
January 23, 2018
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Answers (1)
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Explain factors that cause shifts in the money demand curve
(Solved)
Explain factors that cause shifts in the money demand curve
Date posted:
January 23, 2018
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Answers (1)
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What are the factors that affects the demand of a product?
(Solved)
What are the factors that affects the demand of a product?
Date posted:
January 23, 2018
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Answers (1)
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What is money multiplier?
(Solved)
What is money multiplier?
Date posted:
January 23, 2018
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Answers (1)
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Factors to consider on making a decision on how to produce
(Solved)
Factors to consider on making a decision on how to produce.
Date posted:
January 22, 2018
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Answers (1)
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Analyze the key political and economic governance challenges in Africa
(Solved)
Analyze the key political and economic governance challenges in Africa.
Date posted:
January 20, 2018
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Answers (1)
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(a)Using well labelled diagrams,distinguish between demand and supply (b) state the law of demand and state exceptions to this law(c) Explain five constraints to...
(Solved)
(a)Using well labelled diagrams,distinguish between demand and supply (b) state the law of demand and state exceptions to this law
Date posted:
January 10, 2018
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Answers (1)
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Give reasons for the regulations in the transport industry
(Solved)
Give reasons for the regulations in the transport industry.
Date posted:
December 18, 2017
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Answers (1)
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Explain the nature of indifference curves for all goods
(Solved)
Explain the nature of indifference curves for all goods
Date posted:
December 17, 2017
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Discuss the decolonization process in Kenya
(Solved)
Discuss the decolonization process in Kenya.
Date posted:
December 14, 2017
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Human resource management is useless and shouldn't be taught to student at university. Discuss
(Solved)
Human resource management is useless and shouldn't be taught to student at university. Discuss.
Date posted:
December 7, 2017
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Answers (1)
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State and explain the economic ideas of Hebrews
(Solved)
State and explain the economic ideas of Hebrews.
Date posted:
December 6, 2017
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Answers (1)