Get premium membership and access questions with answers, video lessons as well as revision papers.
Cross price elasticity of demand (XED) measures how responsive the quantity demanded of one good is to a change in the price of another good.
It is measured by the equation:
% change in the quantity demanded of good a / % change in price of good b
A positive figure for XED indicates that the goods are substitutes, whereas a negative value indicates that the goods are complementary
lydiajane74 answered the question on July 4, 2018 at 09:28
- Explain what is meant by the efficient use of scarce resources(Solved)
Explain what is meant by the efficient use of scarce resources
Date posted: July 4, 2018. Answers (1)
- Analyse why focusing on one macroeconomic policy objective may make it more difficult to achieve another.(Solved)
Analyse why focusing on one macroeconomic policy objective may make it more difficult to achieve another.
Date posted: July 4, 2018. Answers (1)
- Explain the main macroeconomic policy objectives of a government.(Solved)
Explain the main macroeconomic policy objectives of a government.
Date posted: July 4, 2018. Answers (1)
- Evaluate the view that a government should always maintain a balanced budget.(Solved)
Evaluate the view that a government should always maintain a balanced budget.
Date posted: July 4, 2018. Answers (1)
- Analyse why an economy’s aggregate demand curve slopes downwards from left to right. (Solved)
Analyse why an economy’s aggregate demand curve slopes downwards from left to right.
Date posted: July 4, 2018. Answers (1)
- Explain the main components of aggregate demand(Solved)
Explain the main components of aggregate demand
Date posted: July 4, 2018. Answers (1)
- What's the relationship between scarcity, choice and opportunity cost(Solved)
What's the relationship between scarcity, choice and opportunity cost
Date posted: July 2, 2018. Answers (1)
- Describe secondary workings, primary standards, secondary standards and and international units(Solved)
Describe secondary workings, secondary standards, primary standards and international units
Date posted: June 28, 2018. Answers (1)
- Discuss factors affecting effective management of common property resource management.
(Solved)
Discuss factors affecting effective management of common property resource management.
Date posted: June 27, 2018. Answers (1)
- State the implications of common property resource management.
(Solved)
State the implications of common property resource management.
Date posted: June 27, 2018. Answers (1)
- Outline the causes of depletion of natural resources.(Solved)
Outline the causes of depletion of natural resources.
Date posted: June 27, 2018. Answers (1)
- State and explain classification of natural resources(Solved)
State and explain classification of natural resources
Date posted: June 27, 2018. Answers (1)
- Explain the soft and hard Human Resource Management Models(Solved)
Explain the soft and hard Human Resource Management Models.
Date posted: June 25, 2018. Answers (1)
- Elaborate on four qualities of a good human resource professional(Solved)
Elaborate on four qualities of a good human resource professional.
Date posted: June 25, 2018. Answers (1)
- The following data relate to the economy of XYZ(Solved)
The following data relate to the economy of XYZ
Shilling “million”
Investment 4,000
Government Spending 10,000
Autonomous consumption 8,000
Net exports 3,600
The marginal propensity to save of the economy of country XYZ is 0.4
Required:
The consumption function of the economy. (1 marks)
The equilibrium level of income in the economy. (3 marks)
Date posted: June 21, 2018. Answers (1)
- One way of facilitating the rate of a country's economic growth is through external borrowing. Explain the advantages of such borrowing(Solved)
One way of facilitating the rate of a country's economic growth is through external borrowing. Explain the advantages of such borrowing.
Date posted: June 14, 2018. Answers (1)
- Differentiate between positive and normative economics.(Solved)
Differentiate between positive and normative economics.
Date posted: June 2, 2018. Answers (1)
- State and explain types of efficiencies.(Solved)
State and explain types of efficiencies.
Date posted: June 2, 2018. Answers (1)
- Name the basic goals of development(Solved)
Name the basic goals of development.
Date posted: May 29, 2018. Answers (1)
- Explain the modernization theories of underdevelopment(Solved)
Explain the modernization theories of underdevelopment
Date posted: May 29, 2018. Answers (1)