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Indifference curves present all possible combinations of market baskets that give the similar level of satisfaction to a person. Indifference Curves 1. Indifferen
What is hyper inflation? How it can be reduced? Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th
You have just been hired by your city’s department of health. Your first task is to use cost-benefit analysis to evaluate a smocking awareness program that the department has been
TRENDS OF NATIONAL INCOME: Estimates relating to India's national income and per capita income are available to us for each of the years beginning 1950-51. These estimates are
advantage dis advantage of pure monopoly
PREFERENCES TOWARD RISK * Choosing Among Risky Alternatives - Assume - Consumption of a single commodity - The consumer knows all probabilities - Payoffs measured i
Corporatism: A system for managing income distribution andwage determination, in that wage levels are determined centrally (across industries or even whole countries) on the founda
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Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p
What is development economics? Traditional economics studies the allowance of scarce resources among alternative uses. Development economics seems at the economic, politica
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