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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.
Expected Utility: Theory Assume that a utility index exists which conforms to the five axioms. The expected utility for the two-outcome lottery L = (P, A, B) is given by,
1. Mrs Munyarryun, 67 years, has been retired from her work for two years. She rings for advice about urinary incontinence, a problem she has experienced over the last 6 months. Wh
what do you understand by linear break-even point? in what way is it useful in managerial economics? what are the assumptions underlying the analysis?
Sources of monopoly power: The main sources of monopoly power include the following: (i) Control of the entire supply of a basic input . It only one firm has access to or co
Consider an economy with three states. The following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4). The t=0 prices of these stocks are given as follow
GROWTH OF EMPLOYMENT OPPORTUNITIES: Policy failure refers to situations: i) When the objectives of public policy are attained partially or inadequately or in a distorted
schedules for cost
Q. Natural environment for economics? Environment: The natural environment is an essential aspect of the economy, whose influence is felt in several different ways. Everyone
sources of oligopory
What is main difference between nominal money supply and real money supply? Real money supply is the supply of real money in the economy. Real money is supplied considering th
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