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who are the contributors in economics and what they contribute in economics
State the Specific Time of demand Demand should be assigned specific time. For instance, it is an incomplete proclamation to state that demand of air conditioners is 4,000 at t
According to J.B. Clark's profits arises in a dynamic economy, not in a static one. A static economy is one in which there is absolute freedom of competition population and capital
Q. What is Labour Requirements on the production capacity? Labour Requirements: Spending on labour is one of the most vital elements of cost of production. Dependable and cor
Explain important terms of marginal productivity and wage inequality Marginal Productivity and Wage Inequality: a. Market power • Compensating Differentials • Dang
Bank of Issue The central bank enjoys the monopoly of bank note issue i.e. no bank other than the central bank is authorised by law to print currency notes. Printing of paper
gap between economic theory and business practice
What is Normative economics It is concerned with varied corrective measures which a management undertakes under different circumstances. It deals with goaldevelopment, goal det
example problems for the types of pricing
Describe the Status goods of law of demand The law doesn't concern the commodities that function as a 'status symbol', add to the social status or exhibit prosperity and opulen
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