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When is the economic theory useless? One misunderstanding is to under-estimate the role of an economic theory. Several people thought an economic theory useless since they thin
What is the arc cross elasticity of demand between Stop decay''s toothbrush and Decay fighter''s toothbrush? What does this indicate about the relationship between the two products
when average product is decreasing, marginal product is?
Transactions demand for money: Transactions demand for money represents cash balances held by economic agents in order to carry outordinary everyday transactions.For example,
elasticity concept in policy formulation
Duality Theorems: The relationship between the direct and indirect utility functions may be described by a set of duality theorems. The following illustrative theorems are pro
what are the forecasting techniques
Special Drawing Rights: SDRs are entitlement granted to member countries enabling them to draw from the IMF apart from their quota. It is similar to a bank granting a credit l
why is choice inevitable in the understanding of economics science?
what is stagnation thesis?
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