Indifference curve - In microeconomic theory, an indifference curve is a graph showing different bundles of goods, each measured as to quantity, between which a consumer is indifferent. Market value and market price are equal only under conditions of market… … Wikipedia It is of interest mainly in the study of microeconomics. Market price - In economics, market price is the economic price for which a good or service is offered in the marketplace. Price elasticity of demand (PED or Ed) is a measure used in economics to show the… … WikipediaĬonsumption tax - Taxation An aspect of fiscal policy … Wikipediaĭemand curve - An example of a demand curve shifting In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity, and the amount of it that consumers are willing and able to purchase at that given price. PED is derived from the percentage change in quantity (%ΔQd) and percentage change in price (%ΔP). Price elasticity of demand - Not to be confused with Price elasticity of supply.
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