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Mercantilism:It is an economic theory from pre-capitalist times which held that a country's prosperity depended on its ability to produce large and persistent surpluses in its foreign trade with other countries.
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Measuring the Economic Value of Education A review of research works regarding the economic value of education shows that it developed in four different directions. They a
not that long ago we experienced the excitement of thinking we would have cheaper online books and free music. these visions that we had of a free market utopia that blinded us to
THEORY OF PRODUCTION: Production activities related to goods and services require inputs. Typically, the set of inputs includes labour, capital equipments and raw materials. T
Mixed Economic System and how can this system solve the economic problem, with example?
A tax imposed on a market with an inelastic demand and an elastic supply will cause
Problem: i) Differentiate between economic development and economic growth. ii) Describe carefully how, using the expenditure approach, national income is calculated. ii
Capital formation: Growth Economists believe that accumulation of capital is one main source of growth of an economy. Emphasis is given to the accumulation of more capital pe
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The Productivity Growth Slowdown However in 1973 steady trend of climbing rates of productivity growth stopped cold. Between 1973 and 1995 measured growth in output per worker
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