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Corporatism:A system for managing income distribution andwage determination, in that wage levels are determined centrally (across industries or even whole countries) on the foundation of productivity growth, profitability and several other parameters, following some process of consultation or negotiation including employers, unions and very often government. Variants of this system are used commonly in Scandinavia, parts of continental Europe, and parts of Asia.
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Market supply and Increase in supply: Market supply is the total quantity of a product that all firms in an industry are willing to offer for sale at a given market price an
List two advantages of markets identified by the authors of the text. Markets can be a significant way of allocating resources. Markets include voluntary exchanges. Another b
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
Estimating and Predicting Cost * Estimates of future costs can be obtained from a cost function, which relates cost of production to level of output and other variables which t
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
Female-headed households: The high incidence of unemployment among the educated in general and women in a particular reflects that the pace of creation of diversified employme
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
do you agree that according to econmy theory a business will always close if its total reveneu cover total costs
GROWTH OF EMPLOYMENT OPPORTUNITIES: Several disquieting features are observed in the Indian labour market over the past two decades particularly during the 1990s. These are di
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