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Disadvantages of division of labour: Division of labour may also have disadvantages that may include the following: (i) Lack of Craftsmanship Division of labour does not m
1. Explain how absolute advantage and comparative advantage differ? 2. Give an example in which a person has an absolute advantage in doing some thing but another pers
reaction of mechanism of nitrous acid with benzene diazonium chloride in presence of Cuperous oxide
Q. Can you explain Cost benefit analysis? A term used to explain analysis, which seeks to quantify in money terms as many of the costs and benefits of a policy or project as po
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
Location of industry and localization of industry: Location of industry tries to answer the key economic question "where to produce". It involves deciding on the area that an
When is the price of a product demand determined? The price of a product is demand defined while the product is in fixed supply. This means that the price of the product is defin
GDP Price Level At the equilibrium level of income aggregate spending in the economy equals aggregate output. All along, we have assumed that the general price level remains un
Q. Define Credit? Credit:Ability to purchase something without immediately paying for it - through a credit card or bank loan, a mortgage or any other forms of credit. Creation
what is the theory of second best?prove the theorm with the help of diagram?
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