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Policy conflicts
In their attempts to achieve the policy objectives, governments often face what are called conflict of objectives. These arise partly because unlike private individuals, governments strive to achieve a multiplicity of objectives.
For instance, a more equal income distribution certainly conflicts with efficiency in the economic system (which reduces, the total output available for everyone).
Secondly, a fiscal policy which is meant to control unemployment may cause inflation if it achieves full employment or policies to combat inflation might call for a cut in public expenditure which in the short-run may lead to a higher rate of unemployment and a less equitable distribution of income and wealth.
Also the policy of maintaining low council houses rents on equity grounds results in long waiting list; this may be undesirable on efficiency grounds as it acts as a barrier to labour mobility and this in turn may increase unemployment.
A fiscal policy meant to cure balance of payments may not just reduce demand for imports but also reduces demand for domestically produced goods. This in turn can have a knock on effect in the form of lower output and higher unemployment.
Determine the Specific Place of demand The demand should relate to a specific market as well. For instance, every year in the town of Dehradun, demand for school bags is 4,000
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Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
REGRESSIVE TAX A tax is said to be regressive when its burden falls more heavily on the poor than on the rich. No civilized government imposes a tax like this.
Q. Explain the Game theory? Game theory: Game theory is a branch of applied mathematics which is used in the social sciences, most particularly in economics, as well as in b
Theory of consumer behaviour The role of customers in an economy is of significant importance because consumers spend most of their incomes on services and goods produced by fi
Perfectly Inelastic (Zero Elastic) Supply Supply is said to be perfectly inelastic if the quantity supplied is constant at all prices. The supply curve is a vertical straight
Question 1: Explain the central theme of Scientific Management. Do you think that the scientific management enhances productivity in the organization? Give your arguments.
all theory
critically analysis the profit maximisation theory of business firm and illucidet the role of profit in business
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