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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
Division of Labor The occupation or breaking down of jobs into simple and repetitive responsibilities.
Balance of payments account: The foreign exchange market is an organizational setting within which individuals, business firms, banks etc buy and sell foreign currency. It has
project work
concept of narrowness in pure economics
What barriers to economic growth can be explained using the Harrod-Domar model? Definition and outline of the Harrod-Domar model; growth in national income = savings ratio over
periodic table groups and acid and basic radical
Business Executives and Choice of Risk * Example - Study of 464 executives found that: 20% persons were risk neutral 40% persons were risk takers 20% perso
National Income Determination: National Income Determination deals with what determines the size of a nation’s national income. The size of a nation’s national income is deter
Money facilitates market activities and is essential in complex market systems. With money people can avoid the problems associated with coincidence of wants. Between, these pro
Transport Infrastructure: The development of transport infrastructure plays an important role in the growth process through increasing mobility of resources and increasing fac
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