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Economics is generally defined as the problem of how best to allocate limited resources, limited because needs are characterized as unlimited, but common sense tells us that rather than limited resources, there is an abundance of resources. The dissimilarity is one of perspective and this is core to any alternative understanding of economics. If needs are the focus, then of course resources are limited by definition, but if minimum requirements or essentials are used as the foundation, then resources are seen to be abundant. The difference is among a description and an explanation. A focus on needs or desires explains a market situation, while a focus on essentials or needs permits an explanation of choices to begin.
PROPORTIONAL TAX Is where whatever the size of income, the same rate or same percentage is charged. Examples are commodity taxes like customs, excise duties and sales tax.
what are the objectives of a firm
How will you influence people to strive willingly for group objective in your organization (target based industry)? Apply your interpersonal influence through communication process
Perfectly Inelastic (Zero Elastic) Supply Supply is said to be perfectly inelastic if the quantity supplied is constant at all prices. The supply curve is a vertical straight
In a one-shot game, if you advertise and your rival advertises, you will each earn RM5 million in profits. If neither of you advertises, your rival will make RM4 million and you w
Discuss the price output determination using profit maximization under perfect competition in the short run.
Q. Explain about Managerial Economies? Large scale production makes possible the division of managerial functions. So there exists a production manager, a finance manager, asal
Equilibrium Income In this model, aggregate desired expenditure has three components: Consumption, Investment and Government Expenditure:
Hi Could you please help me with " Ramsey pricing in detail " as I have an assignment.
the demand for widgets(x) is given by: px=160 -4x the production of widget has the following average variable cost: Avc=2x-20 fixed cost are 162 calculate the output level of widg
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