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How might one measure differences in living standards between less developed and developed countries?
This is a very wide question where any clear and relevant calculate should merit marks. Explanation of standard of living as a wide range of issues - which must then be made measurable! For example, health care is hardly a distinct and measurable variable, but doctors per 1,000 citizens are. The way to address this question is therefore to not only exemplify with variables which are part of living standards, but also render them measurable in some way
factors influencing the conditions of demand for a given product
Using tools of indifference curve, highlight on consumption in business economics.
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
It is clear that monopsony in the labor market is not steady with allocative efficiency and has the effect of withholding significant amounts the employees' MRP from them, that bec
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
Solution of this case study
Facilitating Restructurings- rationale in era of globalisation: There has been some progress in the last few years in efforts to improve the framework for sovereign restructur
Direction of Trade: It is indicative of the structure and level of economic development. As a country develops and its trade gets diversified, it has to seek new outlets for i
Determinants of Short Run Cost - The relationship among the production function and cost can be exemplified by either increasing returns and cost or decreasing returns and cost
sylos labini model of limit price
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