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Functions of Commercial Banks In modern economy, commercial banks have the following functions: i. They provide a safe deposit for money and other valuables. ii.
neoclassical thinking assumes that all firms are established to make profit has been challenged by managerial discretion model.How successful have been these models to maximize pro
Assignment
Average Propensity to Consume The average Propensity to Consume [APC] is defined as the fraction of aggregate national income which is devoted to consumption. If consumptio
The production function of the personal computers for DISK Company is given by Q = 10 KL where Q is the number of computers produced per day, K s the hours of machine time,
THE STRUCTURE OF POPULATION AND SUPPLY OF LABOUR The structure (also called age distribution or composition) of population, or the number of people in the different age groups
Real Rigidities in the Labour Market New Keynesian theories of the labour market help in explaining the existence of involuntary unemployment. The theories also attempt to
Optimum combination of resources The firm can maximise output given costs. That is when the entrepreneur attains the highest isoquant given a particular Isocost. At t
Perfect Competition The model of perfect competition describes a market situation in which there are: i. Many buyers and sellers to the extent that the supply of
Explain about the equilibrium in the labor market. Equilibrium into the Labor Market: All of firm will hire labor up to the point at that the value of the marginal product o
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