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Direct and Indirect Benefits
Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in agriculture that assist in stepping up productivity is another illustration of direct benefits.
Development of attitudes favourable for
They all are instances of indirect benefits. Studies of development response in rural areas have revealed that persons with even lower primary education demonstrate a higher level of response as compared to illiterates when other correlates of life are comparable.
steps for law of coservation of mass
once vaccinated,a person cannot catch a cold or give a cold to someone else. As a result,the marginal social benefit resulting from consumption of the vaccine.
Distributive Bargaining An approach to negotiation that finds to divide up a fixed amount of resources.
Economies of Scope The ability of a organization to decrease its unit costs by producing two or more products or services that involve complementary skills, experience and
Let {(y i * ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where y i * and x i satisfy the linear relationship y i * = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈
How to calculate: fixed cost is $1,000,000 tvc $4,400,000, avc is $22, atc $27, worker productivity is 4. How do I calculate the profit or loss?
clarify the opportunity cost theory
VIVIDLY EXPLAIN WHAT THE RAWLSIAN SOCIAL WELFARE ENTAILS
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
National Budget: A National Budget is a document showing estimates of expected government revenue and intended expenditure for the coming financial year. It usually consist of
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