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Division of labour:Division of labour involves dividing a production process into a number of smaller tasks for each task to be undertaken by a different worker. It may also be referred to as specialization because each worker specializes in doing only one task thereby producing a part of the product as against producing the whole product. Division of labour may be applied in all aspects of production including agriculture, manufacturing, etc.
What have been some justifications given for the historical exclusion of household production from the national accounts? Some reasons have included: a. households are not p
1- Explain how a policy mix (like the one used in 1990s) could help reduced to eliminate the budget deficit without having an adverse effect on the output. Illustrate your answer
Aggregate Demand When referred to in the circumstance of GNP or GDP, aggregate demand dealings the sum of what is spent by various parties in the United States for product and
define and explain the concept of social efficent production
Bilateral and Multilateral Contracts Bilateral contract is defined as to purchase & sell certain quantities of a commodity at the agreed upon prices may be entered into between the
Impact of government legislations on business in india Government in India plays a dominant role in the Indian business activity. It directs and regulates the private business and
Suppose there are two countries (home and foreign) and that two goods can be produced within those countries: machinery (M) and bread (B). Marginal product of labor (MPL) is given
a reduction in investment spending would lead to
Taxes: Compulsory government levies collected to pay for public spending. There are numerous types of taxes (corporate, income, wealth, sales, environmentaland payroll taxes); each
Using a graph of the compensated and uncompensated demand curves, show how the magnitudes of the CV, EV, and ?CS will be related to each other when there is a ceteris paribus incr
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