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For all regular goods, income elasticity is positive though the degree of elasticity fluctuates as per the nature of commodities. Consumer goods are generally categorised under thr
The only road connecting two populated islands is currently a freeway. During rush hour, there is congestion because of the heavy traffic. The marginal external cost from congestio
Actual income and Full employment income Full employment income (Also called Potential National) is the national income that could be produced when the country's factors of pr
Collective bargaining Collective bargaining refers to the whole process by which trade unions and employers (or their representatives) arrive at an enforce agreements. Tra
Paper Money Due to the risk of theft, members of the public who owned such metal money would deposit them for safe keeping with goldsmiths and other reliable merchants who
find out the characterstics of national stock exchange
CLASSIFICATION OF TAXES Taxes can be classified on the basis of: a. Impact of the taxes It means on whom the tax is imposed. On the other hand, incidence of the
Explain the limitations of managerial economics
limitations of managerial ecomomics
what are the objectives of a firm
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