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Comparative Advantage:A theory of international trade which originated with David Ricardo in early 19th Century and is maintained (in revised form) within neoclassical economics. Theory holds that a national economy would specialize through international trade in those products that it produces relatively most efficiently. Even if it produces those products less efficiently (in absolute terms) than its trading partner, it may still prosper through foreign trade. The theory relies on several strong assumptions - including an absence of international capital mobility, a supply-constrained economy.
what are the weaknes of consumer behaviour
critically evaluate the two main utility theories
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what happen when a supply shift to the right on a graph
Illustrate the content in the rational consumer? Content in the rational consumer: a. How to spend income onto goods and services? b. Why maximizing usefulness? c. Wh
ESTIMATION OF NATIONAL INCOME: In India, the first attempt to estimate national income and per capita income was made in the year 1867-68 by Shri Dadabhai Naoroji. This was fo
Dividends:Several companies pay a cash dividend (annually orquarterly) to the owners of its shares. This is an enticement to investors to buy that company's shares and signifies a
Managerial Economies: These are many managerial economies associated with large-scale production. A large firm is in the position to employ more highly qualified and speciali
Research has revealed the following information about the market for Thomas chocolates; the demand schedule can be represented by the equation Qd=850 @20 dollar. The supply schedul
Two firms produce a pollutant called Q. The total costs of reducing emissions of Q are as follows for Firm 1 and Firm 2, respectively: TC1=10+100Q12 TC2=20 + 50Q22. This means tha
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