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Arguments for Uneven Distribution of Income and Wealth
The basic economic argument to justify large income inequality was the assumption that high personal and corporate incomes were necessary conditions for saving which made possible investments and economic growth through mechanism such as the Harrod-Domar Model. In this argument it is maintained that the rich save and invests a significant proportion of their incomes while the poor spend all their incomes on consumer items, and since GNP growth is assumed to be directly related to the proportion of National Income saved then an economy characterised by highly unequal distribution of income would save more and grow faster than one with more equitable distribution of income. It was also assumed that eventually National per capita income would be high enough to allow for a sizeable distribution of income via Taxes and subsidies but until such time is reached, any attempt to redistribute income significantly could only serve to lower growth rate and delay the time when a large income cake would be cut up into smaller sizes for all population group.
How has quantitative analysis changed the current scenario in the management world today? Focus must be on the business world specifically in the context of Asian Countries.
Difference between corporate profit maximization and maximization of shareholder wealth? Ans) Sure, profit maximization relates to profits *only* while shareholder wealth also i
An optimum Population Countries are often described as under populated or overpopulated. From the economist's viewpoint these terms do not refer to the population density (i.
Supplementary Reserve, Requirements/Special Deposit If the Central Bank feels that there is too much money in circulation, it can in addition require commercial banks to mainta
State the Demand analysis Analysis of demand is assumed to forecast demand that is a basic component in managerial decision-making. Demand forecasting is of importance since
WHAT ARE THE FORMS OF COST FUNCTIONS?
The Current Account This records all transactions involving the exchange of currently produced goods and services and is subdivided into i. Visibles: A record
Average Total Costs (ATC) This is total cost per unit of output, obtained by dividing total cost by total output i.e. ATC = Total Cost Total Outp
arguments in favour of traditional theory of profit maximization
Individual and market demand schedule The plan of the possible quantities that will be demanded at different prices by an individual is called Individual demand schedule. Su
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