Demand: concept, factors, elasticity

Demand is a monetary form of expressing a need, i.e. it is the amount of goods and services that buyers are willing and able to (willingly) buy at some price over a period of time. The amount of demand depends on various factors: prices for goods, incomes and tastes of buyers, the number of buyers, […]

Determination of equilibrium output by iterative method

In the standard economic scheme, the subordination of the end and the means is established as: Facility (production)(reason) Purpose (consumption, final demand)(result) where the means (the end of the lowest level) is independent, and the end (the goal of the higher level) is dependent on variables. In the intersectoral balance, the opposite attitude is taken: […]

Claims (complaints)

Claims made by the buyer against the seller in connection with the non-compliance of the quality and quantity of the delivered goods with the terms of the contract are called complaints. Complaints may be made by the buyer only on such issues that were not the subject of acceptance of the goods made in accordance […]