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Concept of Comparative Statics Analysis and its application
Comparative statics Analysis: In native terms, comparative statics means the comparison of two different economic outcomes, before and after the change. It compares two different equilibrium states after adjustments. Comparative statics finds its application in the area of supply and demand. Whenever we need to analyze a single-market fiscal policy or economic policy, concept of comparative analysis can be used.
Higher mathematics is used intensively to complete the linear approximation required in the area of comparative statics. Out economics tutors can help you will all kinds of mathematics and statistics concepts required to handle the problems of comparative static analysis in economics.
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Demand Supply Analysis: The concept of supply-demand analysis is the backbone of the market. It is one of the fundamentals of economics. Demand refers to the quantity needed by consumers and supply is the quantity that the market can actually provide. To allocate resources in an efficient manner it is important to use supply-demand analysis. If you need demand-supply analysis help, we can provide the same to you.
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