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Durability of the Commodity: With some commodities, we require one at a time and they are used for a very long time before they get spoilt. Examples of such goods are cars, tele
Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capit
Population census: A population census is the head count of people living in a geographical area or in a country. A population census collects comprehensive data on people to
Distinction between Human Capital and Resource and Manpower Health and education are normally considered as human capital. Health includes both physical health and fitness. E
defination,characters,examples,graphs,share,effort
Explain the importance of well-established property rights in the method of development. Definition of property rights should not begin and end with owning land and buildings b
elasticity of demand
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
Transfer Payments: Governments typically redistribute a share of tax revenues back to specified groups of individuals in form of several social programs (like welfare benefits, pub
What the definition of microeconomic
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