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Strong Domestic Economy: We have to realise that healthy export sector can be built up only on a strong and efficient domestic economic structure. A sound domestic economy is
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Perfect competition and monopoly are rarely found in the real world and thus they do not represent, for the most part, the actual market situations. Therefore, the conclusions whic
PanCakes Creations is considering franchising its single brand of pancakes to stall-holders on the Zandvoort beach, which is 5 kilometers long. PanCakes Creations estimates that on
Healthcare Reform is currently in the news almost every day. The current approach proposes a government sponsored health insurance “market” to help control costs and make healthcar
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Gains from International Trade: It leads to increased total world production of goods and services. International trade based on comparative cost advantage allows countries to
Marginal Product (MP) of a Factor: From the above mentioned production function, immediately we can study the effect on total output when there is a variation in labour utlili
What is Economics? Economics is explained as the study of how people choose to use their scarce resources in an attempt to satisfy their unlimited wants. In other words, we h
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