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National Income
National Income is a measure of the money value of goods and services becoming available to a nation from economic activities. It can also be defined as the total money value of all final goods and services produced by the nationals of a country during some specific period of time - usually a year - and to the total of all incomes earned over the same period of time by the nationals.
The comparability principle Associations representing workers providing services - clerical, postal, teaching, etc. - have always attempted to apply the "principle of comparab
types of elasticity
Hayek explaination Under a fractional reserves system, it is possible for the banking system to supply resources to entrepreneurs for investment in excess of resources that are
Tomato Farm is selling tomatoes in a purely competitive market. Its output is 5000 bushels, which sell for $15 a bushel. At this level of output, the marginal cost is $15 bushel an
how much output should a firm produce? 80$ per unit C(Q)=40+8Q+2Qsquared
what is traditional theory of cost/explain with suitable diagram
The demand for good X is estimated to be: where p x price of X in dollars M = personal disposable income in trillions of dollars per year P y = price of a competitive in do
Theory of Capital and Investment: Theory of Capital and Investment evinces the below significant issues: Selection of a viable investment project Efficient allocatio
In Home and Foreign there are 2 factors of production, land & labor, used to produce only one good. The land supply in every country and the technology of production are exactly th
Why Do Monopolies Exist? Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit
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