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Q. Define Economies of Scale? Economies of Scale: Most economic production requires producing firm or organization to make an initial investment (in real capital, in design and
a. Referring to the table below and using the "Rule of 70," comment on long-term changes in the standard of living in the United States? b. Would you rather live in the Unite
according to Tobin 1993,examples of Keynesian unemployment includes situation where
What are the advantages of using mathematics in Modern Economics? Many of the advantages of using mathematics are as follows: a. The “language” used and the explanations of
Determinants of Social Demand - Economies of Scale The universe of knowledge is highly diverse. There are certain branches of knowledge whose value to human culture and civil
Earth is completely surrounded by thick envelope of gases called atmosphere. Atmosphere is sub divided into different layers depending upon the distance from the sea level. The
Q. What is Tradeable product? Tradeable:A product (a service or good) is tradeable if its purchaser can purchase it far away from the place where it is produced. Most goods (ot
explain the theory of consumer behavior from the utility perspective
1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
Q. What do you meant by Enclosures? Enclosures: A historic process in Britain and other European countries, in very early years of capitalism, in that lands formerly held and u
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