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From: amit85Reply 1 of 31Reply
Subject: Contributed Answer/Explanation to Q. 2
   income effect

Posted at: Sat May 8 04:33:11 2010 (GMT)

From: ganesh8Reply 2 of 31Reply
Subject: Contributed Answer/Explanation to Q. 15
   Gross profit is what a firm arises at after deducting the costs of
   production from the total Sales revenue . on the other hand net profit
   arises after deducting all the other costs and over heads that results from
   the existence of a business .

Posted at: Fri Jul 2 12:04:29 2010 (GMT)

From: gurmeetgkpReply 3 of 31Reply         View replies (2)
Subject: Contributed Answer/Explanation to Q. 1
   micro economics deals with individual behaviuor whereas macro economics
   deals with entire economy. two examples-micro economics- factor price and
   theory of consumer behaviour. for macro economics- national income and
   aggregate demand and supply.

Posted at: Tue Jul 6 12:04:53 2010 (GMT)

From: gurmeetgkpReply 4 of 31Reply
Subject: Contributed Answer/Explanation to Q. 1
   micro economics deals with individual behaviuor whereas macro economics
   deals with entire economy. two examples-micro economics- factor price and
   theory of consumer behaviour. for macro economics- national income and
   aggregate demand and supply.

Posted at: Tue Jul 6 12:05:31 2010 (GMT)

From: mayuri12Reply 5 of 31Reply
Subject: Contributed Answer/Explanation to Q. 2
   income effect is the degree of resposiveness of quantity demanded for a
   commodity due to change in income of the consumer.It means change in
   quantity demanded for a commodity due to change in income of the consumer.

Posted at: Thu Sep 30 06:55:56 2010 (GMT)

From: vittesh5Reply 6 of 31Reply         View replies (1)
Subject: Contributed Answer/Explanation to Q. 3
   ep<1 - inelastic demand

Posted at: Sat Jan 1 19:23:06 2011 (GMT)

From: vittesh5Reply 7 of 31Reply
Subject: Contributed Answer/Explanation to Q. 4
   ep=1 perfectly elastic demand

Posted at: Sat Jan 1 19:23:36 2011 (GMT)

From: justatypo_22Reply 8 of 31Reply         View replies (1)
Subject: Contributed Answer/Explanation to Q. 34
   Fiscal Policy is the use of budget deficits and surpluses, in order to
   affect the level of aggregate economic activity or to maintain economic
   stability or to promote economic growth and development.

Posted at: Sun Jan 2 15:57:28 2011 (GMT)

From: justatypo_22Reply 9 of 31Reply
Subject: Contributed Answer/Explanation to Q. 34
   Fiscal Policy is the use of budget deficits and surpluses, in order to
   affect the level of aggregate economic activity or to maintain economic
   stability or to promote economic growth and development.
   
   Fiscal Policy is a package of economic measures used by the government
   regarding its public expenditure, public revenue and public debt. It
   consists of measures to control economic fluctuations, which are an
   obstacle  to good economic development.
   
   
   According to Harvey and Johnson, fiscal policy is defined as, 'changes in
   government expenditure which influences the pattern and level of activity.'
   
   
    
   
   
   There are three instruments of Fiscal Policy-
   
   
   1) Taxation
   
   
   2) Public Expenditure 
   
   
   3) Public Debt
   
   
    
   
   
   Inflation can be controlled through the following fiscal measures-
   
   
   1) The government must raise existing rates of taxes and impose new taxtion
   rates, this reduces the purchasing powers of the people, which will
   ulimately lead to fall in overall economic exxpenditure rates. This is to
   be done when infltion is caused by rise in prices, or due to abnormally high
   consumption expenditure.
   
   
   2) The government may be reduced with no change in taxation. This will give
   a rise in surplus budget and and drain out purchasing power of the people.
   However, reduction of government spending and raise in taxation would be
   more effective as it would give a larger surplus budget and also will give a
   quicker relief to the people from inflation.
   
   
   3) The government may also borrow funds to prevent private expenditure from
   increasing. Borrowings from the government may take away excessive
   purchasing power of the people.
   
   
   4) The government may sell goods and services to the public at a greater
   prices than what the commodity or service was before.

Posted at: Sun Jan 2 16:23:04 2011 (GMT)

From: smritivermaReply 10 of 31Reply
Subject: answer of Q.1
   in an economy when we talk about an individual person is said to be micro
   economics.
   for example:income of individual person.or demand of individual customer.
   when we talk about the entire or whole economy is said to be macro
   economics.for example: income of nation or demand of all consumers in the
   market

Posted at: Tue May 31 19:20:45 2011 (GMT)

From: souradeepReply 11 of 31Reply
Subject: Contributed Answer/Explanation to Q. 1
   micro economics is the study of individual economic units and individual
   economic variables whereas macroeconomics is the study of economy as a
   whole. example of microeconomics is the study of household. where as example
   of macroeconomics is the study mark

Posted at: Wed Nov 9 16:32:01 2011 (GMT)

From: mansi82Reply 12 of 31Reply         View replies (1)
Subject: Contributed Answer/Explanation to Q. 1
   micro economics deals with the economic behavior of individual economic
   variable or individual economic unit.

Posted at: Tue Nov 29 07:47:52 2011 (GMT)

From: mansi82Reply 13 of 31Reply
Subject: Contributed Answer/Explanation to Q. 1
   micro economics deals with the economic behavior of individual economic
   variable or individual economic unit. macro economics deals with the economy
   as a whole..

Posted at: Tue Nov 29 07:48:39 2011 (GMT)

From: harshkotReply 14 of 31Reply         View replies (1)
Subject: Contributed Answer/Explanation to Q. 3
   Inelastic demand
   When the change in price and total expenditure move in opposite direction
   then the price elasticity of demand is said to be inelastic and the
   elasticity of demand is less than 1....

Posted at: Fri Mar 23 07:25:24 2012 (GMT)

From: harshkotReply 15 of 31Reply         View replies (1)
Subject: Contributed Answer/Explanation to Q. 4
   Elastic demand
   
   When the change in price and total expenditure move in the same direction
   the elasticity of demand is said to be elastic... Here the elasicity of
   demand is always greater than 1...
   
   
    
   
   
   Hence Here ep>1.. 

Posted at: Fri Mar 23 07:28:06 2012 (GMT)

From: harshkotReply 16 of 31Reply
Subject: Contributed Answer/Explanation to Q. 4
   Elastic demand
   
   When the change in price and total expenditure move in the same direction
   the elasticity of demand is said to be elastic... Here the elasicity of
   demand is always equal to 1...
   
   
    
   
   
   Hence Here ep1.. 

Posted at: Fri Mar 23 07:28:39 2012 (GMT)

From: vishal2007mayReply 17 of 31Reply
Subject: Contributed Answer/Explanation to Q. 10
   BEP is that point where AR=AC,wheras shutdown point are those where AR=AVC.
   
   When AR=AC it means firm's revenue is equals to its cost,means no profit no
   loss.
   
   
   but shut down point is when firm is only able to cover its variable
   cost(labour) not fixed cost(such as rent,intt etc) so it is better to shut
   down the business.

Posted at: Thu Apr 19 11:52:06 2012 (GMT)

From: vishal2007mayReply 18 of 31Reply
Subject: Contributed Answer/Explanation to Q. 13
   when NFIFA is Positive

Posted at: Thu Apr 19 11:53:40 2012 (GMT)

From: vishal2007mayReply 19 of 31Reply
Subject: Contributed Answer/Explanation to Q. 16
   Fiscal deficit means when budgeted expenditure are more than budgeted
   receipts(except the borrowings)
   Actually, fiscal deficit always equals to borrowings in balanced budget.

Posted at: Thu Apr 19 11:57:54 2012 (GMT)

From: vishal2007mayReply 20 of 31Reply
Subject: comment on original answer
   when price and total expenditure moves in oppsite direction then Price Ed is
   said to be elastic(more than one)

Posted at: Thu Apr 19 12:02:42 2012 (GMT)

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