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Themes of Microeconomics ?? As per Mick Jagger & the Rolling Stones, “You can’t always get what you want”. Why Not? ?? Restricted Resources ?? Infini
Engel Curves -Engel curves relate quantity of good consumed to income. -If good is a normal good, Engel curve is sloping upward. -If good is an inferior good, the Engel c
The Wealth of Nations of Modern Economies When the federal government uses expenditures to stimulate the economy, it changes not only the present but the future as well. Question
alternative theories of trade
Distinguish between interventionist and market-led strategies of development. Explanation of interventionist strategy; heavy government involvement in the planning of output, p
Why has it been difficult to produce a single estimate of an environmentally adjusted or "greened" GDP? What are the two approaches that can be used to put a value on environmental
all the problems involved in measurement of profit
Law of mass action states that at a constant temperature rate of a chemical reaction is directly proportional to product of active masses of the reactants raised to the power equal
Compensated Demand Curve: Compensated demand function for a commodity (say x1) of an individual consumer represents demand quantity for that good (which is purchased by the co
Shor tage A condition under that the quantity demanded for a good or service exceeds the available supply for that good or service. Shortages usually cause a rise in price
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