Iqtisodiy muammo
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Economic problems
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Choices are necessary because society’s material wants for goods and services are unlimited but theresources available to satisfy these wants are limited (scarce).
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Talab elastikligi
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Elastic demand
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Product or resource demand whose price elasticity is greater than one; means the resulting change inquantity demanded is greater than the percentage change in price.
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Talabning resursga bog’liq elastikligi
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Elasticity of resource demand
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The percentage change in resource quantity divided by the percentage change in resource price; if the result is greater than one, resource demand is elastic;if the result is less than one, resource demand is inelastic; and when the result equals one, resource demand is unit-elastic.
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Firma
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Firm
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An organization that employs resources to produce agood or service for profit and that owns and operates one or more plants.
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O’zgarmas xarajat
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Fixed costs
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Any cost that in total does not change when the firmchanges its output; the cost of fixed resources.
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