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What are the two main forms of economic distribution? What is the difference between them? The two major forms of economic distribution are exchange and transfer. Exchange in
Labor Productivity - Labor Productivity and Standard of Living - Consumption can increase if productivity increases. - Determinants of Productivity Stock of capit
In a small rural town, 150 people would like to be employed (this is the supply of labor). In order to make profits, capitalists hire some of these workers to produce grain. Those
Q. What do you meant by Deficit? Deficit: When a business, government or household spends more in a given period of time than they generate in income, they suffer a deficit. A
The demand for every productive resources is a derived demand. By derived demand it is meant that it is the output of the resource and not the resource itself for which is a deman
managerial problems related to microeconomics
Consider the following: The city council has just approved the construction of a water park in your town. You are responsible for studying the impact of the new water park on the l
The market for labor can be studied use a supply and demand framework. The demand for labor is from employers who use labor to produce goods and services. The supply of labor is
if marginal cost descreases then what else is effected by this
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
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