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Explain the Demand Pull Inflation
Demand Pull Inflation: Occurs when aggregate demand exceeds aggregate supply. If there is an excess level of demand in the economy, this will tend to cause prices to increase. This type of inflation is known as demand-pull inflation and is argued by Keynesians to be one of the major causes of inflation. Demand-pull inflation is essentially "too much money chasing too few goods."
using necessary and sufficient conditions explain consumer equilibrium diagrammatically as well as mathematically
Q. What do you mean by Externality? An externality exists when the actions of one individual affect the wellbeing of other individuals without any compensation taking place. F
What types of external economies generates the output which reduces the costs of the firms in it? The chief example of external economies provided by marshal are (i) improved
A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.
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Labor Productivity - Labor Productivity and Standard of Living - Consumption can increase if productivity increases. - Determinants of Productivity Stock of capit
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Amartya Sen''s concept of poverty and welfare.
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