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Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trade raises its real income (As it can ‘convert' a given amount of its own output into a larger amount of consumable products through trade) - however in practice it relies on how those terms of trade gains are distributed.
what does production possibilty curve means?
how does compensated demand curve help managers?
explain the central problem of economy with production possibility curve?
Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
Comment on the current account trend since 2013 till 2015
How do you calculate marginal revenue, and monopolistic profit?
I have 3 questions regarding the economics of potlatch, 1.) What is the economic purpose of potlatch? I don''t fully understand this question... I believe potlatch is a gift econ
draw the total revenue curve and the total cost curve showing the profit maximizing level
question #Minimum 100 words accepted#History of cobweb theory
an increase in immigrants
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