Central Bank of Nigeria Library

Image from Google Jackets

Economic fluctuations in Australia, 1948 to 1964 /

By: Material type: TextTextPublication details: Canberra : Australian National University Press, c1972.Description: xvi, 227 p. :illISBN:
  • 0708108148
Subject(s): DDC classification:
  • 330.9'94'05 WAT
LOC classification:
  • HC605 .W46
Summary: Market failure at medium intervals is inevitable in a capitalist economy. Such failures may not be seriously seen in the short run because market adjusts demand through hoarding of inventory or import of required goods and services. The market also adjusts demand in the long run through expansion of concerned industrial output and also by the entry of new firms. The crucial variable is price which also adjusts the commodity and the labor market. The problem comes when there are issues of overproduction, over capacity utilization of plants, over liquidation and excess supply of money, change in demand because of change in tastes and habits of consumers, households and the public. All these create knife edge disturbances in the economy.
Tags from this library: No tags from this library for this title. Log in to add tags.
Star ratings
    Average rating: 0.0 (0 votes)
Holdings
Item type Current library Collection Call number Status Date due Barcode
Monograph & others Monograph & others CBN HQ Library General Stacks Non-fiction 330.9'94'05 WAT (Browse shelf(Opens below)) Available 31008100141650

Includes index.

Includes bibliographical references: p. 214-219.

Market failure at medium intervals is inevitable in a capitalist economy. Such failures may not be seriously seen in the short run because market adjusts demand through hoarding of inventory or import of required goods and services. The market also adjusts demand in the long run through expansion of concerned industrial output and also by the entry of new firms. The crucial variable is price which also adjusts the commodity and the labor market. The problem comes when there are issues of overproduction, over capacity utilization of plants, over liquidation and excess supply of money, change in demand because of change in tastes and habits of consumers, households and the public. All these create knife edge disturbances in the economy.

aia 10/05/2018

Loans

There are no comments on this title.

to post a comment.