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A deficit occurs when spending exceeds income, imports exceed exports, or liabilities exceed assets in a particular year. A deficit spending unit describes how an economy, or an economic unit within an economy, spent more than it earned in a given measurement period. Degrees of freedom refer to the maximum number of logically independent values, i.e. values that can change in the data sample. The law of demand concerns the changing desire of consumers to purchase goods and services at given prices. A demand shock is a sudden change in the demand for a good or service.# The theory of demand describes how a change in the quantity of a good or service that consumers will require affects its price in the market, It is believed that inflation is caused by various mechanisms. The demographic dividend is economic growth caused by a change in the structure of the country’s population, as a rule, as a result of a decrease in birth and death rates. Demographic analysis is the collection and analysis of broad characteristics of groups of people and populations. The dependency ratio is a demographic measure of the ratio of the number of dependents to the total working-age population in a country or region.