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Explain the roles of economics theory. Roles of Economic Theory An economic theory has three probable roles: a. This can be used to describe economic behavior and economi
Price Level:Overall average level of nominal prices in the economy can be calculated, most often as a weighted average of the prices of individualservices and goods (with weighting
"price is becoming cheaper,yet the demand for car is not rising".does it mean law of demand is not operative?
Question: (a) Describe the two major developments which have led in the adoption of Import Substitution Industrialisation by Developing Countries in the 1940s/50s. (b) Ill
Differentiate between nominal and real exchange rate. Nominal exchange rate is the rate which actually prevails in the foreign swap market. The real exchange rate is the rate
Mixed Economy: This type of economic system combines the features of both the capitalist and socialist economic systems. The private sector is allowed to function on the principles
formula of range
what is iso-product curve
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