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Explain why subsidies to domestic firms act as a trade barrier.
A trade barrier is broadly explained as any market intervention whereby the ratio of price of exports to price of imports goes down. Therefore, a subsidy will lower the domestic price of goods - ceteris paribus - and unfairly benefit domestic producers over foreign.
what is stagnation thesis?
WORLD BANK: The World Bank group is a partner in opening markets and strengthening economies. Its goal is to improve the quality of life and expand prosperity for people every
what is The most important source of oligopoly?
Selecting Output in Short Run * We will combine production and cost analysis with demand to determine output and profitability. A Competitive Firm Making Positive Profit
explain the properties of indifference curve with the help of diagrams?
what is the relevance of microeconomic analysis in contemporary Nigerian economy
short run equilibrium of the industry
Formal and Informal systems - MRP System Most production systems are full of 'pushes' and 'pulls'. The formal system issues orders, ie 'pushes'. The informal system tries to
What is the difference between houehold and consumers?
Interest: A lender charges interest as the price of lending money (or some other asset) to a borrower. Interest is mainly charged as a specified percentage of the loan's value, per
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