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The standard model of a trading country
In this section we are covering the standard model of a trading economy were we will be looking at production possibility curves, relative curve and demand. We want to see what happens to production and consumption of two products when the price of one product increases. Basically we want to see does trade benefit countries(two countries in this model) in this standard model. We will also be covering terms of trade and economic growth shown by a shift of the production possibility cover. This mo...
- Book
- Class notes
- • 11 pages •
In this section we are covering the standard model of a trading economy were we will be looking at production possibility curves, relative curve and demand. We want to see what happens to production and consumption of two products when the price of one product increases. Basically we want to see does trade benefit countries(two countries in this model) in this standard model. We will also be covering terms of trade and economic growth shown by a shift of the production possibility cover. This mo...
Microeconomics- Demand and Supply- Demand side covered
The notes explains the demand side of a particular product. That is seeing what happens to the quantity demanded of the product when the price increase and also how does the demand curve get affected(movement of the demand curve) when that happens. It is the introductory level of understanding competition economics.
- Book
- Class notes
- • 3 pages •
The notes explains the demand side of a particular product. That is seeing what happens to the quantity demanded of the product when the price increase and also how does the demand curve get affected(movement of the demand curve) when that happens. It is the introductory level of understanding competition economics.