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FOREIGN TRADE:
Interdependence between the economies of the world has increased multifold. External sector in the economy has gained primeimportance. Both exports and imports contribute to the production process. Both of these are effective instruments in raising the income levels of the people in a developing economy. Apart from flow of goods, increasing flow of services and capital between the nations give rise to payments and receipts in foreign exchange which, in turn, influence the Balance of Payment's position. In this unit, we shall examine foreign trade and Balance of Payments, trade policy and various policy measures for rapid growth of exports. Let us begin with explaining the relationship between foreign trade and economic growth.
Reorder Point Techniques Systems based on reorder points assume that demand is uniform and predictable and that there is no true identifiable time of need. Hence, stock must a
why diminish MRS?
mang ki loch kya hai
Statistical methods are considered to be superior techniques of demand estimation because: a. The element of subjectivity in this method is minimum, b. Methods of es
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Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
clarify the opportunity cost theory
Input Substitution When the Input Price Change Isoquants and Isocosts and Production Function The minimum cost combination can be written as: - Minimum cost
Inflation-Unemployment Trade-off under Rational Expectations : Robert Lucas (1972) pointed out another implication of the above hypothesis of adaptive expectations. Suppose in
an introduction to cross elasticity of demand?
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