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Q. What do you meant by Investment? Investment: Investment represents production which isn't consumed though rather is utilized in the production of other additional output. In
law of diminishing returns
The Hypothesis of Rational Expectations : In the General Theory (Keynes, 1936) we noted that the state of expectations was taken as given. There was, in addition, explici
use of diagram how the price mechanism operates to allocate scarce resources. use examples to illustrate the answer.
In a small rural town, 150 people would like to be employed (this is the supply of labor). In order to make profits, capitalists hire some of these workers to produce grain. Those
why does the quantity of education change in the private universities much more responsive than salt as to changes in price?
Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive
Axioms: It is possible to construct a utility index which can be used to predict choice in uncertain situations if the consumer conforms to the following five axioms: • A
In his 2009 budget proposal for the U.S., President Obama wrote, "Unfortunately, we are also inheriting the worst economic crisis since the Great Depression which will force us to
V alue Chain It is the collection of activities within an organization that allows it to compete within an organization. The activities in a value chain can be grouped into
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