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Determinants of the price elasticity of demand are explained below: 1. Number of close substitutes present within the market - The more and closer substitutes available in the
describe engineering cost theory in detail
Q. What do you mean by Externality? An externality exists when the actions of one individual affect the wellbeing of other individuals without any compensation taking place. F
Transport Infrastructure: The development of transport infrastructure plays an important role in the growth process through increasing mobility of resources and increasing fac
relationship between tfc , tvc , tc
An economy can produce a maximum of either 28 million tons of wheat or 7,000 automobiles, or various intermediate quantities, as depicted in the table below:
Public-Private Partnerships (PPPs):A form of financing public investment and sometimes the direct provision of public services, in that finance is provided by private investors (in
What is main difference between nominal money supply and real money supply? Real money supply is the supply of real money in the economy. Real money is supplied considering th
Why do some people believe that a mixed economic system solves basic economic problems? Ans) It is due to the private sector and public sector both have a say in answering the
Law of mass action states that at a constant temperature rate of a chemical reaction is directly proportional to product of active masses of the reactants raised to the power equal
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