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Transfer Payments
Are any payments made to households by the government that are not made in return for the services of factors of production i.e. there is no Quid pro Quo. Such payments do not lead directly to any increase in output and for this reason they are not included in the nation GNP.
OBJECTIVES OF CREDIT CONTROL The old objective of controlling credit creation by the commercial banks in the country was dictated by considerations of maintaining stability of
what is objective
State about Production theory Production theory assists in determining the size of firm and level of production. It clarifies the relationship between marginal and average cost
what is demand estimation
ROLE OF SCARCITY IN MANAGEMENT DECISION MAKING
Direct control and Moral Suasion Without actually using the above weapons, the central bank can attempt simply to use "moral suasion" to persuade the commercial banks to restr
State the Fixed factor of production Input level of a fixed factor can't be varied in the short run. Capital falls under the category of fixed factor. Capital alludes to resour
incrimental principle
Q. What do you mean by Oligopoly? Type of market condition that is most appropriate in the today's economy, is oligopoly. It's characterised by mutual interdependence among a f
Q. Show the Properties of isoquants? Isoquants slope downwards to the right: It means that, in order to keep output constant; when amount of one factor is increased then the
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