B. Aids to trade TATA
Special Olained =
R. I.C. B
Sendei Ole On Tatabolis
Advertising
Insurance
Information
Reduce risks.
Aids to
Transportation
Warehousing
Place utility.
Time utility.
3
༄༅།། རྒྱལ་ཡོངས་མི ཨེསི་ཆའི་གོང་འཕེལ་ དངུལ་ཁང་ཚད་འཛིན།
NATIONAL SI DEVELOPMENT BANK LTD
Stalo grow big
Banking
del
Figure 1.7 Aids to trade
nance utility​

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Which are the best examples of costs that should be considered when creating a project budget?