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Explain the term economic efficiency?
Answer: Economic Efficiency means full utilization of all available resources in economy i.e. to produce the needed amount of goods and services. When economy is producing its needed amount of goods and services by utilizing all of its resources, then the economy is considered to be an efficient economy.
what are things you need to look in manner of functions,elements,purpose,types and definitions?
Strictly give the diff. btw the theory of reciprocal demand & theory of comparative advantage
What is International Trade Economics, Explain study area of international trade economics.
Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
Solve equation P=200-Qs and Qs=4.5p +5
the price of a laptop increases by 20% and there is a 40% drop in the quantity demanded
I can''t figure out how to graph the aggregate consumption function and the aggregate saving function
an increase in immigrants
what are the properties of indifference curve
Explain how normal profit and abnormal profit differ. Normal profit (breakeven) - which must contain commentary on the inclusion of opportunity costs. Abnormal profit should be
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