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Structuralist Economics:Its a form of heterodox economicsthat emphasizes relationships betweenincome distribution, effective demand and political and economic power.
Structures: A form of fixed capital comprising buildings and other large constructed assets (includingpipelines, bridges, highways, mines etc.).
explain the main criteria for classifying firms into industries.which criteria serve the better and why?
What is the Adam smith view of "invisible Hand"? Invisible hand is an unknown power which is working for the interest of total economy. In any economy, everybody cares for his
What is a natural monopoly Define natural monopoly as a situation where the advantages of scale a fixed costs are so high that it is impossible to fully exploit them. MC and AC
what is wage?
describe the dominent firm model
#question.what is meant by ppc?illustrate the central problems of aneconomy with this curve.
In the diagrams related to bandwagon effect, why do we say when the price is 30$ the demand is 40?
With the aid of a diagram explain the long run average cost curve and the influences upon it.
Problem: (a) "Economics is the study of how society decides what, how and for whom to produce". Describe the importance of opportunity cost to a society. (b) Distinguish bet
indifference curve and budget line
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