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Perfect Competition
It's a market where conditions prevail like that buyers and suppliers are without the ability to manipulate price in any significant way such that the market dynamics are determined almost completely through the forces of supply and demand.
Explain how automatic (fiscal) stabilisers may help to lower fluctuations in the business cycle. Definition of automatic stabilisers as built-in to the system in terms of trans
Policies for Technological Advance Without better technology, increases in capital stock generated by investment rapidly run into diminishing returns. And without improvements
what is direct utility in micro economics?
The Production Possibilities Frontier (PPF) The PPF curve exhibits the probable combinations of goods and services accessible to an economy, given that all productive resources
use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of labour,(a) an increase in immigrants, (b) a reduction in wag
Ask question how do I find the Price
Determinants of Social Demand for Education Certain levels of education like the secondary school and graduate level are considered as having productive value and are attribut
construct your own version of a production possibility curve and use it to explain scarcity, opportunity cost and choice
1. On Wednesday the 16 th , 2008 an enormous avalanche knocked out the lines that transmitted electricity from a hydroelectric dam to Juneau, Alaska. This eliminated Juneau's prima
Social cost: Social cost of production refers to the cost incurred by a society when its economic resources are used to produce a given commodity. The usage of a society’s res
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