The government policies and procedures are often very rigid and there is no scope to change plans as the situation or the time demands.The government is accountable to the people for its action and elasticity will give the government better adjustments and governance.Controlled elasticity is better than free elasticity to the government.
Identify the significance of the Virginia Plan during debates over the formation of an American constitutional government.
It proposed three branches of government.
It proposed three branches of government.
the significance of reservations is that the united states government moved native americans to reservations to make more land available for settlers and railroads
A republic government is elected and the head of the state is not by inheritance but by concensus of the people and elected for a fixed tenure and one of the features of democracy.
How can government benefit from the elasticity concepts? Analyse the various economic policies which will benefit from the concept.
Elasticity of demand will help managers determine what behaviors affect customer's buying behavior. Price elasticity will tell managers whether they can change the price of products or not.
how government use the elasticity concept to genrate revenue
Price elasticity has a lot to do with how firms and governments can predict costs and profits. The greater the elasticity, the more uncertain their financial projections will be.
IN MACHINE design modulus of elasticity place an important role. from the value of modolus of elasticity we come to know about maximum value of load that can be to the given material upto which the material is assume to follow the hook's law.
Unitary is a reference to the type of demand elasticity. Unitary demand elasticity occurs when the elasticity of demand = 1. This indicates that the level of demand changes in-sync with the price at a 1:1 ratio.
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1. Check signs and Magnitude 2. Compute Elasticity Coefficients 3. Determine Statistical Significance
the significance is that the government profit from specific interest rates in an economy
price elasticity income elasticity cross elasticity promotional elasticity
Identify the significance of the Virginia Plan during debates over the formation of an American constitutional government.
The elasticity of demand refers to how sensitive the demand for a good is to changes in other economic variables. The different types are: price elasticity, income elasticity, cross elasticity and advertisement elasticity.