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TRADE UNIONS Trade unions are workers' organizations whose objective is to protect the interests of their members. Functions i. To bargain on behalf of their mem
CENTRAL BANK A modern central bank performs so many functions of different nature that it is difficult to give any brief yet accurate definition of a central bank. Any definiti
Special Drawing Rights (SDR) These are international reserve currencies created by the International Monetary Fund (IMF) to overcome the problems of using gold and national c
explian williomson model of managerial discretion
Causes There are a number of explanations of the business cycle but changes in the level of investment seem to be the most likely. In the simplest Keynesian model an increase
Factors affecting the size of National Income The size of nation's income depends upon the quantity and quality of the factor endowments at its disposal. A nation will be ri
Describe about the Theory of profit Every industrial and business enterprise aims at maximising profit. Profit is the difference between total economic cost and totalrevenue. P
Comment on the consequences of environmental degradation on the economy of a community.
Equilibrium in a single market model A single market model has three variables: the quantity demanded of the commodity (Q d ), the quantity supplied of the commodity (Q s ) an
Prediction markets: These are speculative markets fashioned with the intention of making predictions. Assets which are produced possess an ultimate cash worth bound to a specific
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