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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.
Define scarcity and opportunity cost. Show how these concepts are useful in managerial decision making
ARGUMENTS FOR MONOPOLIES Although monopolies are usually hated mainly because their practice of consumer exploitation, there are some aspects of monopolies which are favourabl
A monopolist has two types of customers. There are 100 of Type A, who will every pay up to $10 for a single unit of the good, and 50 of Type B, who will every pay up to $8. Neithe
Controller of Credit The principles of credit control by the central bank were discovered and enunciated after the publication of Bagehot Lombard street in 1873. Even after 187
Gains From International Trade The gains from International trade are to make the participating countries better of than they would have otherwise been. This will be the res
Q. Availability of Substitutes - Determinants of Demand? One of the most important determinants of elasticity of demand for a commodity is availability of its substitutes. Clos
a) In 1948, the money GNP was $520 billion and the price index was 120. In order to make the 1948 GNP comparable with the base year, the 1948 GNP must be adjusted to:
demand for sting ray
1. Suppose in a perfectly competitive industry the market demand and supply forces combine to produce a short-run equilibrium price of Rs 70. Suppose that a firm in this industry h
Explain factors determining elasticity of demand.
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