Question
Consumer surplus is highest in the case of
________.Solution
Consumer surplus, the difference between what consumers are willing to pay and what they actually pay, is highest for necessities, as these goods have a high perceived value.
What is the definition of "inflation" in economic terms?
During which Five-Year Plan did India adopt the strategy of a mixed economy?
A minimum wage is defined as:
An increase of 1% per annum in the growth rate of the money supply will increase inflation by:
What does 'GVA' stand for in economic contexts?
Balance of trade is the _______________.
What term describes the consumption of fixed capital in an economy?
Which bank has been awarded the global 'Celent Model Bank' award under the category – 'Payments System Transformation'?
Consider the following statements about Cess:
I) Cess is not a permanent source of revenue for the government.
II) Cess can be imposed on ...
The Phillips Curve represents the relationship between ________.
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