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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
Privatisation in the narrow sense can take several forms: a) Total Denationalisation: This implies complete transfer of ownership of apublic enterprise to private hands. Some
what are the majotr sources of monopoly
Marketing Economies: These are derived from the bulk purchasing of inputs and bulk distribution of outputs. A large firm is able to buy its raw materials in larger quantities
what is market equilibrium and disequilibrium?
can average labor productivity fall even though total output is rising
Q. State the Keynesian Theory of employment? Under employment Theory, Govt interference Aggregate Demand- Aggregate supply- Effective demand, Income and employment consumption
unique product
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
Consider an economy, in which technological capabilities become obsolete. Use the Solow-Swan model and the knowledge spillover model to explain how its productivity growth rate dep
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