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Physical Capital: A tangible tool, machine, building or other productive asset that is used to produce other goods or services. Pollution: Many economic activities involve disch
A city government regulates taxi fares. It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years. At one time vacant taxis wer
Economic Rent - Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it. * An Example - There are tw
1).Explain a coordination failure. Using the Prisoner's Dilemma example above, discuss coordination failure. 2). What's a Market Failure? Please define the circumstances under w
Private and Social Benefits Private benefits are those which accrue to an individual. They may be both monetary and non monetary, direct and indirect. Earnings of an individua
Q. Define Contribution Pensions? Defined Contribution Pensions: A pension plan which makes no specified promise about level of pension paid out after retirement. In its place,
The prevention of major swings in economic activity can be handled most easily by the: A. Household sector B. business sector C. financial sector D. government sector why?
What are the possible negative consequences of economic growth in a developing country? Define economic growth as an enhance in GDP during a given time period, and then define
Are markets the best way of solving the basic economic problem? Justify your answer. The core of the economic problem ( who, what, for whom) is something all societies must add
what is traditional economy 2 features of traditional economy
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