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What is Economic Theory? An economic theory that can be considered an axiomatic approach comprise a set of assumptions and circumstances, an analytical framework and explanatio
Q. Explain about Employment Rate? Employment Rate: This measures share of working age adults who are in fact employed in a paying position. Employment rate can be a better in
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Disadvantages of State Trading State trading has several disadvantages. (i) State trading is often afflicted by the corruption and inefficiency usually associated with the pu
Fixed costs are those which are independent of output that is they do not change with changes in output. These costs are a fixed amount which must be incurred by a firm in the shor
1. On Wednesday the 16 th , 2008 an enormous avalanche knocked out the lines that transmitted electricity from a hydroelectric dam to Juneau, Alaska. This eliminated Juneau's prima
Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
4) The prevention of major swings in economic activity can be handled most easily by the A. household sector B. business sector C. financial sector D. government sector Explain
Distinguish among the terms of trade and the balance of trade for a country. Definition of terms of trade a) The amount of a given amount of export goods essential to buy
Gibb''s energy In every chemical system, the substance moves in a direction in which there is a decrease in free energy, for example i.e. ?G is negative. G = H - TS where, G is
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