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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.
This is also known as sales force Opinion Method. In this method instead of consumers the opinion of the salesmen is sought. It is sometimes referred as the grassroots approach as
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What are the Policies and Long-Run Growth In many concerns it is decidedly odd that world distribution of output per worker is as unequal as it is. Migration, World trade and f
Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
1) The $787 billion stimulus package, "American Recovery and Reinvestment Act" passed in Winter 2009 contained a mix of tax rebates, tax credits and increases in various transfer p
Which drug is likely to be the most profitable for its producer (in terms of average “per-drug” profit)?
Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are o
theory of profit
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How to calculate new profit earn by a firm in oligopoly if another firm cheat
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