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Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery, equipment, and infrastructure. A country or company should invest continuously just to offset depreciation, or else its capital stock shall gradually run down.
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explain the relationship between scarcity,choice and opportunity cost
What is Game Theory? Game Theory is a mathematical method of decision-making in which a competitive situation is examined to verify the optimal course of action for an interes
Laspeyres index The Laspeyres index tells us that: - The amount of money at present year prices which an individual requires to purchase bundle of goods and services which w
A tax imposed on a market with an inelastic demand and an elastic supply will cause
Suppose the price elasticity of demand for extra dark chocolate truffles is -6. Hold other things constant , if price for Extra Dark Chocolate truffles is decrease by 3%, what wil
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