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During a given interval a nation''s overall productivity grows at a compounded rate of 2%. Its population growth rate and degree of labor-force participation do not change over thi
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
Non-Tradable:Some products can't be transported over long distances or otherwise sold to consumers from far-off locations. These products (including some goods as well as most serv
implications of varios market structure for price determination
Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci
what are the merits and demerits of deductive inductive methods in economic analysis?
RECENT DEVELOPMENT IN DEMAND ANALYSIS: For many years economic theorists analysed the optimal behaviour of consumers while econometricians estimated consumer demand and expend
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
explain the concept economies/diseconomies of scale and minimum efficient scale
Emergence and Persistence of Structural Imbalances: The period broadly corresponds to the period of the Sixth Plan and the Seventh Plan. The Sixth Plan was launched when the e
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