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what is tariff and qouta
What is the difference between 'scarcity' and 'shortage'? 'Scarcity' and 'shortage' have dissimilar definitions. In reality, when most of the goods and resources are scarce go
What is endothermic reaction? 3. Draw a generalised energy graph for an endothermic reaction.
Expected Value - The weighted average of payoffs or values resulting from all the possible outcomes. The probabilities of every outcome are used as weights Expected
1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
WHAT IS A PRODUCTION FUNCTION SCHEDULE?
Define the adoption of economic institutional arrangement in analytical frameworks. Adoption of Economic Institutional Arrangement: The third step for studying an economi
Official Reserve Account: This part of the balance of payments informs us about how the balance of both current and capital accounts taken together is settled.Transaction in thi
Calculate the cross-price elasticity of demand between computers and printers, where a 10 percent decrease in the price of computers results in a 15 percent increase in the quantit
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