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What barriers to economic growth can be explained using the Harrod-Domar model? Definition and outline of the Harrod-Domar model; growth in national income = savings ratio over
WHAT IS PPC
determinants of demand and determinants of supply
Explain consumer sovereignty and why it might not be that extensive in real life. Explanation of consumer sovereignty Use of S/D model to show how changes in consumption pat
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
using the marginal utility approach, discuss how economic theory explains the optimum pattern of consumption for an individual consumer. consider how far this analysis can explain
Explain crowding out and why it may be considered important for policy makers. Crowding out refers to how enhanced government borrowing (real borrowing!) might serve to raise i
Q. Role of Monetary Policy? Monetary Policy: Monetary policy reflects the use by government and government agencies (mainly the central bank) of interest rate adjustments and o
Economic Development The word development is from the Latin root ‘Voloper’ which meant wrap up, envelop. The English used this word along with ‘des’ meaning ‘undo’. The word
Marginal revenue: Marginal revenue is the change in total revenue with respect to a change in quantity sold. That is, it is the change in total revenue that results from the s
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