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Q. Explain abput Capitalist Class? Capitalist Class:Group of individuals (which represents just a couple of percent of population in advanced capitalist countries) which contro
What is optimal choice of consumer according to consumer behavior? Consumer's Optimal Choice: In the fundamental problem of preference maximization, the set of affo
Economic Ef ficiency The effort to making products and services in the least costly way without sacrificing excellence.
merits and demerits of international trade
Choosing Inputs How to minimize cost for the given level of output. We can do so by combining Isocosts with Isoquants Producing a
what are monetry accounts?
Demand Function The function capturing the dependent relationship between the price people are willing to pay for products or service and other factors related to that product
Assume that milk operates in a perfectly competitive market, use a well labeled demand and supply model to explain how market equilibrium price of milk is being determined.
Labor cannot be divided from the human being who provides it. The result of the inseparability of labor from the people who gives it, is that the wage for the last hour worked mus
if a commodity has limited demand , should economist say that we still have a scarcity ?
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