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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.
isoquants curve shows
Why might economic growth not be compatible with sustainable development? Define economic growth; enhance in national income during a time period. Explain sustainable developme
who is a rational behaviour
causes of monopoly
Allocated Stock and Safety Stock Allocated stock A category of stock which ensures that current stock is set aside and not issued under the normal procedure. Safet
how do oligopolistic market and monopolistic competition react to change in demand and supply ?
how do you create a combined ppc consisting of three people
Compensated Demand Curve: Compensated demand function for a commodity (say x1) of an individual consumer represents demand quantity for that good (which is purchased by the co
how advertisement affects the sales revenue of a form
Unions in a Competitive Market: Again, there a group of economists who will rely on the use of the competitive model to demonstrate the evils of unionization. The most regular anal
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