Indian Economy Questions

Bilater monopoly occurs in a market where a single seller i.e, a only one monopoly and a single buyer i.e, one monopsony exists.

The law of demand implies that "The higher the price of a good, the lesser the quantity demanded".

For example:

If the rate of a mobile phone increased, the quantity demanded by the customers is decreased.

Although demand curves are typically downward sloping to reflect that consumers’ utility for a good diminishes with increased consumption, firm supply curves are generally upward sloping.The upward sloping character reflects that firms will be willing to increase production in response to a higher market price because the higher price may make additional production profitable.

Another name for false productivity is Spinning your wheels. They use the term for false productivity because your wheels are spinning as you're doing work but you're not going anywhere i.e, making any progress.

CST is not payable on outward freight (if charged separately) and outward insurance if property in goods passes to buyer at the time of despatch.

It means that Sale price does not include Freight charges will not attract CST when shown separately in they Invoice. But goods & freight show in one invoice CST will attractive.