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Absolute advantage is the simplest yardstick of economic performance and it may be simply describe as If one person or a firm or a country may produce more of something with the sa
Q. Describe pay-as-you-go pension plan? Pay-As-You-Go Pension: A pay-as-you-go pension plan sponsor basically just pays for pension benefits to retired plan members out of its
1. Sam Smith owns an internet radio company that has subscribers in Houston and Dallas. The demand functions for the 2 markets are: Q(Houston) = 50-0.35P(Dallas) Q(Dallas) = 80-0.
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
"price is becoming cheaper,yet the demand for car is not rising".does it mean law of demand is not operative?
How have economists traditionally defined "economic growth," and how is that different from "living standards growth"? Economists have traditionally explained economic growth
when average product is decreasing, marginal product is?
economic problems are faced by all types of economies but they are dealt with differently in different types of economies.discuss
Elasticity of Price Expectations (epe)
Illustrate the income changes and consumption choice. Income Changes and Consumption Choice: This is of interest to see at how the consumer’s demand changes when we hold pri
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