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The least square method is based on the assumption that the past rate of change of the variable under study will continue in the future. It is a mathematical procedure for fitting a line to a set of observed data points in such a manner that the sum of the squared differences between the calculated and observed value is minimized. This techniques is used to find a trend line which best it the available data. This trend is then used to project dependant variable in the future. This method is very popular because it is simple and in expensive.
What is demographic transition In the world today not all nations have gone through their demographic transitions. Many countries today aren't rich enough to have begun populat
Problem 1: a. Use the circular flow model to explain the concepts of injections and withdrawals. b. Explain the concept of budget multiplier. c. Using the concept of mult
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Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
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Costs of Education The resources employed to produce a good or service measured in monetary terms is known as the ‘cost of the product’. If the measurement is per unit of serv
Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic agents about the future values of macroeconomic varia
ENUMERATION OF WORKERS: Now, let us discuss about the sources of data in India on workers. In India, two main organisations which generate and compile data on workers are the
how a capitalist system solves the three fundamental economic problems
The raspberry growing industry is a perfectly competitive industry. The firms in the industry have a U-shaped LAC, minimum average cost is $8 and the minimum efficient scale is 4 u
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