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What are the costs and difficulties of such an operation?
The direct costs are administrative, cooperative and storage costs, whereas the societal costs include misallocation, oversupply and waste. Buffer stocks have been increasingly abandoned for a number of reasons, mainly dealing with costs, political pressure, large unwanted stocks and enhancing criticism of the bad incentive effect perpetuating oversupply of goods.
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
#questionLook up the real GDP of the U.S. for the 4th quarter of 2007 and compare it with the real GDP for the 2nd quarter of 2012. What does this tell you about the performance of
Explain how foreign aid might help in the development process of a developing country. Definition/outline of various forms of aid, i.e. donor aid, tied aid, bilateral aid etc.
Location of industry and localization of industry: Location of industry tries to answer the key economic question "where to produce". It involves deciding on the area that an
Which element of the periodic table has the most characteristics and is used in everyday life?
Prove that utility approach and indifference curve yield the same consumer equilibrium
what are the advantages of a monopsonistic labour market
Economies of Scale
How do we evaluate the value of money? Supply and demand verifies the value of a currency. If demand is high, the value rises, and vice versa. Factors that affect supply and de
demand curve
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