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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.
ADMINISTRATIVE REFORMS - ECONOMIC POLICY: During the last few decades, phenomenal changes are taking place at a fast rate in the field of science and technology as well as in
Uses of price and income elasticity of demand: The concept of price elasticity of demand has some uses whihc include the following: (i) Pricing of goods and services It is
What is use of analytical tools in the modern economics? Analytical Tools: Modern economics also gives different powerful analytical tools which are usually specified by geo
(a) Reasons of Urban Growth (b) Characteristics of Urban Growth (c) Economic Life of a Building (d) Zone of Transition (e) Location Theory (f) Patterns of Growth Theory (g) Growth
Point Elasticity: Point elasticity is brought in use when the change in price is quite small, which means. The two points between which elasticity is being measured or calculat
Explain how Monetarist economics views the role of markets and government intervention in fighting business cycles. Monetarist economics believes that the government should fol
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a) Microeconomics is concerned with decision-making within the firm, household or on the individual level, but macroeconomics is concerned with the behavior of the whole economic s
Why government cannot print new currency to pay the debts? When there is deficiency of internal resources then government borrow. Government can borrow either from central ban
If the quantity demanded of Pepsi Cola goes up, and its supply enhances what will occur in the market for Pepsi?
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