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Why do some people believe that a mixed economic system solves basic economic problems?
Ans) It is due to the private sector and public sector both have a say in answering the basic economic questions, therefore, there will be a degree of high efficiency (because of the private sector involvement) and social welfare too (because of the public sector involvement).
It permits the Government to intervene when the economy faces market failure. The mixed economic system permits markets to operate freely until it fails to assign resources efficiently, after this, the government agencies, such as the EU Competition Commission, are able to correct for these failures. If this had been a totally free economic system, Government agencies would not have the means of power to be able to intervene.
What is the explanation for SAC to be tangent to LAC?(In other words, why must both be tangent to each other)?
GIVE AND EXPLAIN IN DETAIL,ARGUMENTS GIVEN TO EXPLAIN LEONTIEF''S EMPERICAL FINDINGS ON THE HECKSCHER-OHLIN MODEL OF TRADE.
Special Drawing Rights: SDRs are entitlement granted to member countries enabling them to draw from the IMF apart from their quota. It is similar to a bank granting a credit l
give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.
Potentials of Productivity Growth: It needs to be noted that growth in productivity witnessed in the past are an average rate at the All-India level. There are considerable re
Non-Accelerating-Inflation Rate of Unemployment (NAIRU): This theory is a variant of neoclassical natural rate of unemployment. As in original natural rate theory, NAIRU advocates
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How do I draw and interpret a combined ppc curve?
Economies and Diseconomies of Scale -Economies of Scale Increase in the output is greater than increase in the inputs. -Diseconomies of Scale Increase in the
What determines aggregate demand?
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