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The comparability principle
Associations representing workers providing services - clerical, postal, teaching, etc. - have always attempted to apply the "principle of comparability" with wages of those in similar occupations, though it is often very difficult to compare workers in different occupations, since no two jobs are alike.
What are the conclusions about the cost of production and efficiency in the long-run equilibrium of a perfectly competitive industry? Three conclusions regarding the cost of pr
NATIONAL INCOME AND WELFARE The relationship between National Income and Welfare is best explained in terms of economic growth (By economic growth is meant capacity expansio
Dynamics of Unemployment and Real Wages through Productivity Shocks The model that you are studying here is in the tradition of the real business cycle theory th
ECONOMIC EFFECTS OF TAXATION a. A deterrent to work Heavy direct taxation, especially when closely linked to current earnings, can act as a serious check to production
In Home and Foreign there are 2 factors of production, land & labor, used to produce only one good. The land supply in every country and the technology of production are exactly th
Determine the Managerial economics techniques Though the most frequent applications of these techniques are as below: Risk analysis: Numerous models are used to quantif
Real Vs Nominal GNP: "Deflating" by a price Index One of the problems that confront economists when measuring GNP is that they have to use money as the measuring rod. Thes
Quality and Quantity Controls: Demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide finished goods of correct quant
Q. What is the Nature of Commodity ? The nature of a commodity as well has an effect on the price elasticity of its demand. Commodities can be characterised ascomforts, luxurie
demand for sting ray
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