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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.
Potentials of Productivity Growth: It needs to be noted that growth in productivity witnessed in the past are an average rate at the All-India level. There are considerable re
Composition of Trade: It is indicative of the structure and level of development of an economy. For instance, most of the UDCs depend for their export earnings on a few primar
causes for emergency of monopoly
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
How might governments use buffer stocks to stabilise prices? Explain/outline a buffer stock scheme in brief as a method for government (in this case) to warehouse (stock) goods
sylos labini model of limit price
Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen
difference between the cardinal analysis theory and ordinal theory
Poverty: A state of having inadequate income or other resources to support a household (or group of households) at a basic standard of living. Poverty can be measured in absoluterr
Fiat money is not a new idea. Some European historians recognize the first use of fiat money in Europe resulting from gold and silver smiths issuing their customers receipts for g
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