Are the concepts of demand for domestic goods and domestic demand for goods the same?

(i) P1 = Rs 4 = Rs 5 M = Rs 20 Equation of the budget line = P1 x x1 + P2 x x2 = M 4x1 + 5x2 = 20 (ii) If Rs 20...

(b) India is the fourth largest country, regarding consumption of rubber with total consumption 631000 tons in 2001, after USA and Japan. Due to high consumption in domestic market India...

(a) Milk purchased by a tea stall is an intermediate good because it is purchased by a firm as a raw material for the process of production of other good. (b) Bus purchased...

Individuals demand refers to the quantity of a good, single consumer is willing to buy, at a price during a period of time while market demand refers to the quantity...

(a) Related goods are of two types, Substitute goods and Complementary goods. (i) In case of substitute goods: When price of one commodity falls, demand for other commodity declines, e.g.,...

exD = -(2); ed = -(3) The coefficient of price elasticity of demand is always negative due to the law of demand which states that there is an inverse relation...

Y is more elastic than X because one Per cent change in price of Good Y leads to one per cent change in quantity demanded while one per cent change...

Good B has higher elasticity as compared to A. It is because with change in price by one per cent, percentage change in demand for B is 4% while in...

When a domestic product is valued at current prices it is called nominal domestic product and when it is valued at base year prices it is called Real Domestic Product. Real Domestic...