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Economics- Definition
Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people.
Microeconomics handles with:
• Conduct of individual units
• When Consuming; How we select what to buy
• When manufacturing; How we decide what to produce
• Markets: The communication of consumers and producers
• Evaluation of aggregate issues:
?? Inflation
?? Economic growth
?? Unemployment
Population census: A population census is the head count of people living in a geographical area or in a country. A population census collects comprehensive data on people to
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
(i) Define the three types of price discrimination, clearly stating the different information requires of each type of discrimination. (ii) Find a real-world example of second-degr
what is microeconomics in business decision
V alue Chain It is the collection of activities within an organization that allows it to compete within an organization. The activities in a value chain can be grouped into
DISCUSS THE COMPENSATION PRINCIPLE OF KALDOR -HICKS
Growth of Agricultural Production and Productivity: Post-independence period was marked by severe and recurrent shortages of foodgrains. Dependence on imports of foodgrains wa
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
In 1939 the U.S. economy was operating where in the production possibility curve?
what are the practical importance of income elasticity of demand?
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