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Poverty: A state of having inadequate income or other resources to support a household (or group of households) at a basic standard of living. Poverty can be measured in absoluterrelative terms.
Poverty Rate: Proportion of households or individuals in a jurisdiction which are stated as poor, according to either absoluterrelative definitions of poverty.
why society has chosen the mixed economy
"Dr. Arata Kochi, the World Health Organisation malaria chief,... [says that] eradication is counterproductive. With enough money, he said, current tools like nets, medicines and D
Purchasing Power Parity (PPP): The exchange rate is determined by the relative purchasing power of currency withineach country. For example, if a product X costs Rs. 100 in I
Define the concept of cross elasticity of demand
Explanatory research is research conducted in order to describe any behavior in the market. It could be done by using questionnaires, group discussions, random sampling, interview
INDIVIDUAL DEMAND * Price Changes - Using figures developed earlier, the impact of a change in price of food can be shown by using indifference curves. Effect of Price
Situation is where a luxury is there. There is the snob appeal possibility where the higher the price, the more desired the commodity it. Often people will drive expensive cars, e
how does utility figure in the analysis of consumer demand
for the total product curve why is it when you reach at maximum adding more input leads to decline in output?
9. The average supernormal profit for the firm is
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