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How have economists traditionally defined "economic growth," and how is that different from "living standards growth"?
Economists have traditionally explained economic growth in terms of production of goods and services, whereas the concept of "living standards growth" encompasses the improvement in the quality of diet and housing, transportation and communication, education, health care, , working conditions, entertainment, and even political freedom and social inclusion.
what is price elasticity of demand ? write briefly with explaining it''s type.
the price of a laptop increases by 20% and there is a 40% drop in the quantity demanded
Discriminatory Fee Structure This method discriminates between courses and the economic condition of the family to which the student belongs. The cost of providing the educati
#question.explain three neccessary condition to achieve pareto efficiency.
INFO: Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to
The compact disk player has literally revolutionized the recording industry with its state-of-the-artclarity, sound, durability, and the fact that it costs less than cassette tape
Chapter 13 / PERFECT COMPETITION and THE SUPPLY CURVE 1. Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixe
The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
A farmer produces maize according to the following production function Q m = AK 1/3 L 2/3 Where Q m is output of maize, A = land, K = capital and L = labour Given that
what is chemical analysis of iron ?
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