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Explain the term Fordism
Between approximately 1890 and 1930-or perhaps 1890 and 1950-a host of innovative technologies and business practices were adopted in the US. Europeans speak of 'Fordism': taking the part--Henry Ford's assembly lines in Detroit and his mass production of the Model-T Ford--for the whole. The fact that other industrial economies were unable to fully adopt American technologies of mass production and mass distribution in the first half of the 20th century gave the U.S. a unique level of industrial dominance and technological leadership in the years after 1950.
What is the difference between a change in demand and a change the quantity demanded? There is a distinction among demand and quantity demanded. Demand explains the behavior o
Explain about the duality between direct and indirect utility. Duality between Direct and Indirect Utility: While seen how one can recover an indirect utility function by ob
difference between absolute advantage & comparative advantage theory
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Transactions demand for money: Transactions demand for money represents cash balances held by economic agents in order to carry outordinary everyday transactions.For example,
We discussed why economists prefer to use available statistics and econometric techniques over other means of measuring consumer demand. Write a short essay describing a situation
Theories and Models ?? Microeconomic Analysis – Theories are taken in use to describe the observed phenomena in terms of a set of essential rules and
-1- ASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100.0
what is the theory of second best? prove the theorem with the help of a diagram.
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