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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 makes it differ from other market structures
Q. What do you mean by Bond? Bond: A financial security that represents promise of its issuer (generally a company or a government) to repay a loan over a specified time period
what is the langrangian function
Estimating the Educational Structure of the Labour Force in the Economy for the Target Year The educational levels of persons within each occupational structure for the base y
Factors that calculate price elasticity of demand: The proportion of Income spent on the Commodity If the price of a good is relatively low such the expenditure on it is a
Q. Definition of labour force? Labour Force:Total population of working-age people who are willing and able to work and who thus have ‘entered' labour market. Labour force incl
indifference curve for the demand for big macs
You are the CFO for Carnival Corportaion and your boss, the CEO informs you that he wants to add three new cruise ships to the company''s inventory. Each ship will cost $500 millio
assignment on consumer equilibrium
Materials Requirements Calculations - MRP System MRP is a computer-based 'engine' which carries out calculations in order to determine: What is needed, and When i
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