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How do economists differ from accountants in the use of the term profit ?
Definition of rev and accounting costs
a) foregone interest
b) foregone wages
c) risk premium
Q.No2 Read the following situation Consider the following parlor game to be played between two players. Each player begins with three chips: One red, one white and one blue. Ea
Mercantilism was the economic philosophy underlying English colonial policy. The object of mercantilism was to enhance the wealth of the Mother County (Great Britain) in gold & sil
You can buy as many drinks as you want at $1 each. You can also buy as many chocolate bars as you want at $2 each. You have $5 to spend. You must buy whole bars and drinks, that is
1.Randy Johnson made a decision to foryo college to worki in the family business/How sure was he that was his right thing to do to work for family? 2 Hal began discussing about
Is an unequal distribution of income and wealth a problem? Explain in short. Yes: because specified no government intervention, which on very low incomes cannot afford necessar
Define the effectiveness of World Bank in promotion of development? The World Bank has a clear set of goals: to assist countries meet the UN Millennium Development Goals. A ma
what is social cost
Use short notes and illustrations to answer the following questions: i) Distinguish between an indifference curve and an isoquant ii) Distinguish between substitution and inc
GDp of World?
how the concept of elasticity used for decision making
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