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would a rational producer be concerned with the average or marginal product of an input in dec
Types of Regional development financing arrangements: Regional development financing arrangements have been of three basic types. The oldest and best-developed type is mul
An economy can produce a maximum of either 28 million tons of wheat or 7,000 automobiles, or various intermediate quantities, as depicted in the table below:
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Is economics an art or a science
Change in consumer income: A change in consumer income may bring about a change in the quantity demanded of a good or service. However, the direction of change in quantity deman
Question 1: Tourism is often seen as a way of generating income, particularly foreign exchange. The economic spin-off effects are viewed as the most important aspect of touris
Production Process: Production is a process that transforms factors of production or inputs into output of goods and services. Production may be classified into extraction, ma
what is budget line?show the shift in the budget line
Manpower-Population Ratios In this technique, manpower will not be planned for the economy as a whole. It will be planned for sectors or sub-sectors of an economy. For instanc
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