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Organization for Economic Development (OECD)
An international organization found in Paris France in 1961, to act as a worldwide forum to stimulate world trade and economic development. The OECD's membership consists of the world's developed countries like Austria, Australia, Belgium, Denmark, Canada, France, Finland, Greece, Iceland, Ireland, Italy, Luxembourg, Japan, the Netherlands, New Zealand, Spain, Norway, Sweden, Portugal, Switzerland, Turkey, United Kingdom and last is The United States.
Disadvantages of the Planned System The centrally planned economies suffer from the following limitations: Lack of choice: Consumers have little influence over what is p
Economics has two major branches: (1) micro economics, and (2) both micro and macro economics theories. The parts of micro and macro economics that constitute managerial economics
REALISM OF PERFECT COMPETITION The assumptions of perfect competition are obviously at variance with the conditions which actually exist in real world markets. Some market
Determine the Market demand curve Market demand curve is the horizontal summation of individual demand curves. The individual demand schedules plotted graphically and summed up
NATIONAL INCOME AND STANDARDS OF LIVING Standard of living refers to the quantity of goods and services enjoyed by a person. These goods may be provided publicly, such as in t
Dynamics of Unemployment and Real Wages through Productivity Shocks The model that you are studying here is in the tradition of the real business cycle theory th
Environmental issues factors This is governed by the below factors: The type of economic system of the country Business cycles Industrial policy of the countr
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What is Normative economics It is concerned with varied corrective measures which a management undertakes under different circumstances. It deals with goaldevelopment, goal det
Benefits are: 1) People can create their own decisions 2) The government has limited control, which is good for arrangement 3) Gives freedoms like Enterprise, ownership,
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