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What are the advantages of trade surplus
Banking Infrastructure: An efficient financial system can influence the long-term growth through three important channels, namely: 1) increase in the proportion of saving tran
how do you calculate opportunity cost
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Economic growth and Economic development: Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income.A country is
Identify the four essential economic activities. The four main economic activities are: a) resource maintenance, b) production, c) distribution, and d) consumpti
Elasticity of Demand Price elasticity of demand measures percentage change in quantity demanded which results from a 1 % change in price. Price Elasticity
Define the adoption of economic institutional arrangement in analytical frameworks. Adoption of Economic Institutional Arrangement: The third step for studying an economi
Tariff: A tariff is a tax imposed on the purchase of imports. It is generally imposed in order to stimulate more domestic production of the product in question (rather than meeting
what is direct utility in micro economics?
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