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Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
Volume of Trade: It relates to the size of international transactions. Since a large number of commodities enter in international transactions and their aggregate can be found
Q. What do you mean by Costs? Costs Section 56 of the Environment Act describes costs as including ‘costs to any person and costs to the environment'. The costs of a project a
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The price elasticity of demand is how economists calculate the responsiveness of consumers to alters in prices for a commodity. In other words, as price enhances (reduces), the qu
The Long-Run Behavior of Natural Resource Prices Observations – Exhaustion of copper has increased by a hundred fold from 1880 through 1998 signifying a large increase in
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Q. What do you meant by Monetary Targeting? Monetary Targeting: A policy which attempts to directly limit the growth in total supply of money in the economy. It was main policy
how pp curve can solve the central problems of an economy?
explain the properties of indifference curve with the help of diagrams?
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