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NATIONAL INCOME ACCOUNTING
This refers to the measuring of the total flow of output (goods and services) and of the total flow of inputs (factors of production) that pass through all of the markets in the economy during the same period.
To see exactly what national income includes, how it is measured, and what it can tell us, we start with economic models: By economic models we mean:
A simplification of a real world or a practical situation aimed at explaining that situation within a set of assumptions.
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
examples
Explain the role scarcity of resources plays in economics decision making
1. According to an article in San Luis Obispo Tribune July 21, 2006 37% of the college freshman and 48% of the college seniors carry a credit balance from month to month. Suppose
Q. Explain about Utility analysis? A subset of consumer demand theory which analysis consumer behaviour and market demand employing marginal utility and total utility. Key prin
Indian industry has progressed a lot because of globalization. A lot of development has been seen in Indian industry.
diagram of a perfect competition
Define Williamson''s Model of Managerial Discretion practice?
MONOPOLISTIC PRACTICES The following practices may be said to characterize monopolies. Exclusive dealing to supply and collective boycott Producers agree to supply onl
Determine a Specific Price of demand of product A proclamation concerning the demand of a product without mentioning its price is worthless. For instance, to state that demand
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