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Bank of Central Clearance ,Settlement and Transfer This function was first developed by the bank of England toward the middle of the nineteenth century. In 1954, a scheme was
Theory of consumer behavior
Price Elasticity of Demand and the slope of the Demand Curve Elasticity determines the shape of the demand curve. From the formulas
LONG RUN OUTPUT In the LR whether or not the firm makes profit will depend on the conditions of entry. For example, when surplus profits exist, there will be new entrants bec
Williamson, Wachter and Harris (1975) suggest promotion incentives within the firm as a substitute to morale-damaging monitoring, where promotion is based on objectively measurable
DIFFERENTIALS AND DISEQUILIBRIUM In a free enterprise system, workers aim at maximizing their wages. Hence, it would be expected that workers would move form low-paying indus
The Historical development of money For the early forms of money, the intrinsic value of the commodities provided the basis for general acceptability : For instance, corn, s
Direct intervention The government can also intervene directly in the economy to see that its wishes are carried out. This can be achieved thorough: a. Price and i
Explain the importance of Managerial economics Managerial economics bridges the gap among 'theoria' and 'pracis'. The tenets of managerial economics have been derived from quan
determine points in units and reorder quantity normal sales=2 month; reorder time=15days; max stock=6 units; safety stock=1 unit ( based on 95% customer''s satisfaction )
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