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Surplus: Anysector or agent in economy (business, householdor government) experiences a surplus when its income surpasses its expenditure.
Surplus, Economic: For the economy as a whole, surplus equals the amount of production over and above what is essential for the reproduction of existing economic system (including essential consumption required to reproduce population, and depreciation on existing stock of capital). An economy's aggregate surplus can be consumed (to allow for a standard of consumption higher than mere subsistence, or to finance wasteful projects such as wars or monument-building) or re-invested to expand future production.
Slutsky Theorem - Mathematical Presentation: We already know from the first order conditions of utility Maximisation that, where D ij is the co-factor of the ith ro
RELATIONSHIP BETWEEN TFC ,TC ,TVC
ways of imroving productivite
Explain the link between the rate of interest and inflation. Interest can be explained as the price of money - more expensive money will lead to few loans, higher saving and as
different types of production funtion and curve given by different economist
Public-Private Partnerships (PPPs):A form of financing public investment and sometimes the direct provision of public services, in that finance is provided by private investors (in
What is Cost Push Inflation Cost Push Inflation : When a cost of production (e.g. wages) enhances and firms put up prices to maintain profits. Cost increases may occur beca
Hi, I am taking an economics course. I have a problem where I am given 2 types of units with the same production rate and the labor used to produce those units. I am supposed to c
Explain Monetarist and Monetary policy Monetarist: A group of economists who believe that alters in the money supply are the most effective instrument of government economi
Tariff: A tariff is a tax imposed on the purchase of imports. It is generally imposed in order to stimulate more domestic production of the product in question (rather than meeting
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