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Neoclassical economics is dominant approach to economics currently taught and practiced in most of the world (and particularly dominant in Anglo-Saxon countries). It attempts to explain behaviour of the economy on the basis of competitive, utility-maximizing behaviour by workers, companies and consumers. Their actions in the markets for both factors of production and final products willmake sure that all available resources are fully utilized (which is, economy is supply-constrained) and each factor is paid according to its productivity.
CONCEPT AND MEANING OF INFRASTRUCTURE: Infrastructure sectors are the backbone of a national economy. It has been commonly opined that infrastructure development is closely re
1. Why is a proprietary good necessary for a firm to choose to become a multinational? 2. In Ramondo, Rappoport, and Ruhl (2011), "Horizontal vs. Vertical FDI: Revisiting Evi
Why is investment so important in an economy? Define investment as an enhance in capital stock and link this to broad macro issues; future output, enhance in living standards, ta
In June 2009, Textile co. (a domestically located firm) purchased 1000 yards of cloth from India (a foreign country) for $1000. Textile co. hired Elizabeth and paid her $5000 to s
what is break even quantity
Distinguish demand pull, cost push and imported inflation using graphs where appropriate. What are the likely causes of current inflation in Australia? Answer Co
how does the charging the monoply a specific tax per unit affect the monopoly optmum and 5the welfare of consumer
Periodically, Merrill Lynch surveys its customers to determine customer satisfaction levels. They want to determine the impact of experience on the satisfaction ratings of their co
Equation (1) gives a hypothetical demand curve for hybrid vehicles in the United States during the year 2000, where Q is the quantity demanded and P is the price. Equation (2) giv
The Supply Curve – The supply curve exhibits how much of a good manufacturerss are willing to sell at a particular given price, holding constant other factors that can aff
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