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An economist's view of costs contains both explicit and implicit costs. Explicit costs are accounting costs, and implicit costs are the opportunity costs of an allocation of resou
A " properly mixed strategy " means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneo
Q. What do you meant by Relative Poverty? Relative Poverty: A measure of poverty based on an individual or family's relative income compared to overall average level of income
meaning of opportunity cost
Strong Domestic Economy: We have to realise that healthy export sector can be built up only on a strong and efficient domestic economic structure. A sound domestic economy is
Q. What do you meant by Derivatives? Derivatives: A derivative is a financial asset whose resale value depends on the value of other financial assets at different points in tim
discuss the implications of various market structures(competitive and non-competitive) for price determination
Modem theories of trade
Q. Describe the Theory of effective demand ? Effective Demand:Theory of effective demand was developed separately in the 1930s by Michal Kalecki andJohn Maynard Keynes. It eluc
what is price elasticity of demand ? write briefly with explaining it''s type.
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