Category: Economics

➤ What is the economic definition of demand?
Demand is the schedule or relationship showing how much of a good buyers are willing and able to purchase at various prices during a given time period, holding other factors constant. It combines consumer preferences, income, and prices into a demand curve that maps quantity demanded at each price.

The term describes a situation where the quantity of output rises, but the average cost of production falls.
diseconomies of scale
economies of scale
diminishing marginal returns
marginal cost output

➤ When can parties opt out of the CISG?
Parties can exclude the CISG or modify its effect by express agreement under Article 6. To opt out, include a clear contractual clause stating that another law governs or that the CISG does not apply. Vague language or silence may not produce a valid exclusion in every jurisdiction.

What is an arbitrage?
Moving energy out of California.
Making reasonable profits from the sale of electricity.
Any opportunity to make abnormal profits.
Rolling blackouts due to an energy shortage.

➤ Why focus on telecoms, energy, transport, finance and agrifood?
Those sectors have strong network effects, high fixed costs, vertical integration, and significant barriers to entry. They directly affect prices, service quality and trade costs. Targeted competition reforms in telecoms, energy, transport, finance and agrifood deliver large welfare gains, improve access for households and SMEs, and stimulate digital and productive investment.

Select all that applyWhat considerations are taken into account when designing a product’s package?Multiple select question.protection and convenienceeconomycontainmentcultural appealdurability
Choose all that apply
protection and convenience
economy
containment
cultural appeal
durability