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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.
Dumping In the international marketing, when an organization charges less for goods than it real cost or less than the organizations charges in its home market. This procedure
Question: (a) Using an example, differentiate between private, social and external costs and benefits. (b) With the use of a diagram, describe the difference between profi
What is the difference between indifference curve and isoquants? An indifference curve shows dissimilar combinations which a consumer can buy with a given level of income. Ind
How might a country exchange rate influence the balance of payments? Definition of the exchange rate; price of domestic currency in another (basket of) currency (currencies). C
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
scope of microeconomics
Determinants of Social Demand for Education - Equity Perfect equality is not observed in any society. Hierarchy in status, standards of living, capacities for effective demand
Current Cropping Pattern: It is evident from these data that foodgrains constitute the most dominant crop group that is cultivated in India. It is estimated that total croppe
Allocative Efficiency The production of products and services such that stages of production are closely tied to levels of customer demand.
Households: The fundamental unit of individual economic behaviour. Households offer labour supply to labour market, make consumer purchases,earn income (from employment and other s
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