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Economics; Different Perspective
? Economics is the knowledge of the choices taken by people who are faced with scarcity.
? Scarcity is a condition in which resources are restricted but can be utilized in various ways; so one good or service should be sacrificed for the other one.
Society’s Choices
? The decisions of consumers, producers, and government decide how an economic system answers 3 fundamental questions:
1. What products do we manufacture?
2. How do we manufacture these products?
3. Who consumes or intakes the products?
Q. Explain about Capacity Utilization? Capacity Utilization: A company or economy's capacity represents maximum amount of output it can produce. Rate of capacity utilization, h
STRATEGIES AND POLICIES FOR ADMINISTRATIVE REFORMS: As stated in a United Nation's Publication, following strategies and policies are necessary to bring about administrative i
In June 2009, Textile co. (a domestically located firm) purchased 1000 yards of cloth from India (a foreign country) for $1000. Textile co. hired Elizabeth and paid her $5000 to s
What is the Molarity and Normality of the ferrous ammonium salt ? For exam....196 gm (initial)
determination of interests rates in classical system
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Functions of Money Money performs several important functions. It serves as a medium of exchange, a unit of account, a store of value and a standard of deferred payments. In a
what the company do?
Long-Run Versus Short-Run Cost Curves What happens to average costs when both the inputs are variable versus only having one input that is variable (short run)? The Inflexi
PEST analysis Political factors: The political factors include laws and regulations in the market and this influences the market activities. These laws and regulations a
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