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Continuity and Regularity:
We should make it a point that once we have entered the market for a particular commodity and have gained some foothold in it, we must strive to maintain this position, notwithstanding constraints of domestic production in some future years. If such a situation arises, we should be ready to sacrifice domestic consumption. Switch-off and switch-on systems do not work in trade. Continuity and regularity are hallmarks of success in international markets. Equally important is for Indian exporters to change their mind-set. Exporters should get dedicated to 'marketing' which is the exchange of 'satisfaction' for money, as distinct from 'trading' which is the exchange of goods for money. The former can be described as sadhana, while the latter is pooja. Marketing needs perseverance.
The Industrial Revolution The century after 1750, saw the industrial revolution proper: invention of steam engine, spinning jenny, power loom, hydraulic press, railroad locomot
1. Explain how the aggregate supply curve for the entire economy can be derived under; i. Classical assumption ii. Keynesian assumption 2. Explain how equilibrium can be a
What is the explanation for SAC to be tangent to LAC?(In other words, why must both be tangent to each other)?
You are the final voter in a brand new start-up league, the Ultra Fun Foosball League (UFFL). The directors are looking to you to make the decisions on how many teams to place in a
Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology.These changes may in turn alter
Why do some people believe that a mixed economic system solves basic economic problems? Ans) It is due to the private sector and public sector both have a say in answering the
resonance effect
static & dynamic multiplier of keynision theory
Describe the poverty cycle and suggest how a developing country can break the cycle. The poverty cycle is explained as the trap developing countries can land in; low incomes →
Price elasticity is used in economics to determine the changes in price of goods and services. It measures the change in price demanded and quality supplied. Determinants of pri
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