What is the difference between deflation and disinflation?

June 30, 2024 No Comments

A: Deflation is a decrease in general price levels of throughout an economy. If there is a higher supply of goods and services but there is not enough money supply to combat this, deflation can occur. Deflation is mainly caused by shifts in supply and

What is the difference between deflation and disinflation?

July 7, 2024 No Comments

What is the difference between economic value and market value?

June 30, 2024 No Comments

A: The difference between market value and economic value is that the former represents the minimum amount the customer is willing to pay for an asset while the latter represents the maximum amount that the customer is willing to pay. They are different valuations based

What is the difference between economic value and market value?

July 7, 2024 No Comments

What is the difference between external economies and external diseconomies?

June 30, 2024 No Comments

A: There are two types of phenomena that owe their names to external economies and external diseconomies. In standard microeconomics and macroeconomics, an external economy refers to a positive externality, and an external diseconomy refers to a negative externality. In economics of the firm, an

What is the difference between external economies and external diseconomies?

July 7, 2024 No Comments

What is the difference between fiat money and legal tender?

June 30, 2024 No Comments

A: Fiat money does not have any intrinsic value. What value it has depends on public confidence in the currency’s issuer. Legal tender is any currency declared legal by a government. Many governments issue a fiat currency and then make it legal tender by setting

What is the difference between fiat money and legal tender?

July 7, 2024 No Comments

What is the difference between fiat money and representative money?

June 30, 2024 No Comments

A: Fiat money is physical money (paper money and coins), while representative money is something that represents intent to pay the money such as a check. Fiat money is backed by the government, and representative money can be backed by different things. For example, a

What is the difference between fiat money and representative money?

July 7, 2024 No Comments

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