Answer: The opportunity cost is the most desirable trade-off.
Explanation: Trade-offs refer to the choosing decisions that an individual faces when choosing between two-goods or making any other economic decision. For instance, a graduate may face a trade-off between choosing a job or starting up his own business.
While, opportunity cost is simply the cost of the lost alternative. For example, if the graduate chooses to start a business then his opportunity cost is the salary foregone from going for a job.
Thus, when deciding on which option to choose (trade-off) we always look at the option which has a lower opportunity cost. So we can say that they are the most desirable trade-off.
Hello !
Answer :
The Fisher formula is expressed as 1+R = (1 + r) x (1+ h) where R is the nominal rate, r is the real rate, and h is the inflation rate.
Answer:
Factors affecting the population growth of a country are:
Explanation:
The population growth of a country are determined by many factors from which some are mentioned below:
- CULTURAL ATTITUDE OF THE FAMILY: The attitude of the family towards population growth and their country plays a role in the population growth.
- GOVERNMENT POLICIES: lack of the government policies and planing results in the population growth of a country.
- COST OF EDUCATION: The higher the cost of education, the higher the illiteracy will be causing lack of education and awareness.
- AVAILABILITY OF CONTRACEPTION: Availability of the medical techniques to avoid the unwanted pregnancy helps in the controlling of the population growth of a country.
Answer:
Market price; Equilibrium price
Explanation:
The equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of goods demanded. This is the point at which the demand and supply curves in the market intersect. It become hard to reach equilibrium price and quantity when customers infer the quality of a product by its price cos that will inform their purchasing decision.
