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explain the various marginal uses and limitations of break even poin?
The circular flow diagram is used to represent the interdependence that exists between sectors of the economy. The diagram illustrates that there are various collections of same e
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
The market for labor can be studied use a supply and demand framework. The demand for labor is from employers who use labor to produce goods and services. The supply of labor is
what is the basis of marginal utility
Tax Policy Implementation: Take, e.g., the case of tax policy. It attempted to raise resources by a combination of direct and indirect taxes to finance a large part of increa
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Gross Domestic Product and Growth Rates: The rate of growth of the secondary and tertiary sectors has been more than double that of the primary sector, with the secondary sect
Gains from International Trade: It leads to increased total world production of goods and services. International trade based on comparative cost advantage allows countries to
How can we identify that something is elastic or inelastic? When demand of any commodity does not change with the change in price of that commodity that item is said by inelas
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