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Q. Explain about Employment Rate?
Employment Rate: This measures share of working age adults who are in fact employed in a paying position. Employment rate can be a better indicator of the strength of labour markets than unemployment rate (As the unemployment rate depends on whether or not a non-working individual is considered to be 'in' the labour force).
Q. What is Unit Labour Cost? Unit Labour Cost: How much an employer pays for labour needed to produce each unit of a good or service. Unit labour cost can be computed by dividi
Reducing Risk Three methods consumers attempt to reduce the risk are: 1) Diversification 2) Insurance 3) Collecting more information
heckscher - ohlin theory of trade
explain the concept of producers'' equilibrium
Risk Averse: - A person who prefers certain given income to risky income with same expected value. - A person is careful risk averse if they have a diminishing marginal ut
Why elasticity is important for economic analysis? Elasticity is a significant concept in understanding the incidence of indirect taxation, marginal concepts as they relate to
the diagram used to illustrate of abnormal and normal profits
The raspberry growing industry is a perfectly competitive industry. The firms in the industry have a U-shaped LAC, minimum average cost is $8 and the minimum efficient scale is 4 u
The production function for a firm is expressed as follows: Q = 800K - K 2 +5KL - 7750L + 10,000 Where Q is quantity of units manufactured, K and L are units of capital and
central problems of capitalist economy
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