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Strategic Planning for Enhancing Exports: Strategic Planning for Enhancing Exports need to be undertaken at the national level. It is necessary to undertake a separate and
What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
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MEASURES TO PROMOTE GROWTH: In view of the recent global experience, the following steps need be taken to accelerate the rate of growth. 1) Mastering and constantly improv
Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.
what is aridge line and significance in economics.
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
CONSUMER CHOICE INVOLVING RISK: The traditional theory of consumer behaviour does not include an analysis of uncertain situation. Von Neumann and Morgenstern showed that under
Circular Flow of Income: The diagram shows Real Flow (goods and services) and Monetary Flow (Income and expenditure). The bottom pair of arrows depicts the goods market.
1) Lynne's income is £2, 000 and she is risk averse. The probability of someone slipping on her stairs is 1/8. If this happens, she will be sued for £1, 000 and will have to pay th
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