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Can you explain the difference between joint demand and competitive demand?

Competitive Demand means You can derive equal satisfaction from either product e.g. substitutes like jam and marmalade. Therefore jam and marmalade are in competitive demand. 

Whereas 

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Answered by Sophie W. Economics tutor
26689 Views

Solve algebraically: 6a + b = 16 5a - 2b = 19

We have two algebraic equations and we are trying to find what a and b can equal to fit for both situations. 

1. 6a + b = 16

2. 5a - 2b = 19

The easiest method...

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Answered by Sophie W. Maths tutor
6459 Views

Simplify: 2x + 6y + 2y - x

This is simplified by solving common terms (the x's and the y's). Where X and Y terms can't be solved together.

Splitting it up:  

You can see 2x-x= x

and for ...

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Answered by Sophie W. Maths tutor
3863 Views

How does actual economic growth differ to potential economic growth?

Actual economic growth can also be known as demand side economic growth because it is affected by changes in the demand in an economy.  It is an increase in output as measured by real GDP/ national inc...

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Answered by Sophie W. Economics tutor
32195 Views

How do I form the perfect tense?

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