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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.
Building up a Stable and Viable Export Production Base: It is necessary to make a deliberate production plan and to earmark a part of production for export even if there is a
FUTURE DIRECTIONS: It is often said that the difficult things are the beautiful things, and if they are as vital for healthy national development as an economy, society and po
Exchange Rate Policy: After the second amendment to the Articles of Agreement of IMF which came into effect on April 1, 1978, every member is free to choose its own exchange r
What is the Macroeconomics? Macroeconomics is study about the aggregate behavior of the economy like how the actions of all the individuals and firms within the economy intera
Question 1: ? deduce the causal factors behind technological developments in different cultures and during different periods of human history ? assess the basis of common cr
What simplifying assumptions does the traditional macroeconomic model make (in addition to those made in the NIPA)? The simplifying assumptions are: 1) The household and i
Diseconomies of Scale A rises in a firm's cost of producing an additional unit as all another factors of production rising. Diseconomies of scale can be caused by poor and ine
What types of external economies generates the output which reduces the costs of the firms in it? The chief example of external economies provided by marshal are (i) improved
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