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TRADE UNIONS Trade unions are workers' organizations whose objective is to protect the interests of their members. Functions i. To bargain on behalf of their mem
Lender of Last Resort The central bank also acts as the lender of last resort. Historically, this function developed out of the special position of the central banks. The centr
Comment on the consequences of environmental degradation on the economy of a community.
Effects of Fluctuations in Exchange Rates When a country's currency depreciates, exporting firms may have competitive advantage but businesses which rely on imports for raw ma
No new substitutes for the commodity If some new substitutes for a commodity appear in the market, its demand normally declines. This is quite natural, since with the availabil
Define the Managerial economics Managerial economics is thus a study of application of managerial skills in economics. It assists in determining, anticipating and resolving po
What is Demand theory: Demand theory relates to the study of consumer behaviour. It addresses questions like what incites a consumer to buy a particular product, why do consume
distinguish between industry demand and firm company demand
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
gap between economic theory and business practice
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