What is an example of income elasticity of demand?
Income elastic goods include luxuries like airline travel, movies, restaurant meals and automobiles. As income rises, demand for income inelastic goods/se...
Published: May 04, 2026
What are the harmful effects of MNCs to a host country give three examples?
(i) MNCs are profit driven and are less concerned for the development of the host country. (ii) The technology used are capital intensive and expensive wh...
Published: May 04, 2026
What are the different types of supply?
(i) Composite Supply under GST. (ii) Principal Supply under GST. (iii) Mixed Supply under GST. (iv) Mixed Supply v. Composite Supply. (v) Exempt Supply &a...
Published: May 04, 2026
What is a consumer in the economy?
A consumer is one that buys goods or services for consumption and not for resale or commercial purpose. The consumer is an individual who pays some amount...
Published: May 04, 2026
Is Slovenia socialist country?
Following the re-establishment of Yugoslavia during World War II, Slovenia became part of Federal Yugoslavia. A socialist state was established, but becau...
Published: May 04, 2026
What was the impact of Bolshevik Revolution on Russia?
During the Russian Revolution, the Bolsheviks, led by leftist revolutionary Vladimir Lenin, seized power and destroyed the tradition of csarist rule. The ...
Published: May 04, 2026
Do I need to pay tax in Poland?
Residence rules Polish income tax law provides that an individual whose place of residence lies within the territory of Poland shall be liable to Polish i...
Published: May 04, 2026
What is the cost of American cheese?
This timeline depicts the retail price of American processed cheese in the United States from 1995 to 2020. In 2020, the U.S. price for one pound of proce...
Published: May 04, 2026
How many barrels of oil does us have in reserve?
35,230,000,000 barrels The United States holds 35,230,000,000 barrels of proven oil reserves as of 2016, ranking 11th in the world and accounting for abou...
Published: May 04, 2026
Where did the debtors settle?
The city of Savannah, once a part of Oglethorpe’s utopian design, makes its beginnings in 1734. The development of Georgia was unlike all the other Britis...
Published: May 04, 2026
