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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.
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
Case Study - EUROPE Let us now see how events unfolded over the decades in Europe that led to monetary unification in terms of a single currency and single central bank. At
Visit to a village panchayat for agriculture based project
Question 1: (a) Using examples, explain how the theory of Purchasing Power Parity conforms to the Law of One Price. (b) According to you, how best does the Theory of Purchasing
Division of Labor The occupation or breaking down of jobs into simple and repetitive responsibilities.
What is the difference between wages and salaries
How much does it cost
conditions of pareto optimality
Development Banks Banks that function as coordinating and intermediary industries to raise capital attract investment, and giving technical assistance for the economic develop
Determine The Rule of Divergence in General Though even if attention is confined to non-communist-ruled economies there still has been huge divergence in relative output per w
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