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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.
Indifference curves present all possible combinations of market baskets that give the similar level of satisfaction to a person. Indifference Curves 1. Indifferen
what is the theory of Second best? Prove the theorem with the help of a diagram.
ref article :http://www.economist.com/news/finance-and-economics/21587795-if-congress-fails-lift-limit-americas-debts-consequences-are a.assume that the debt ceiling crisis
not that long ago we experienced the excitement of thinking we would have cheaper online books and free music. these visions that we had of a free market utopia that blinded us to
what is general equilibruim?
Adding the economic activities of government to the circular flow model shows that: 1. Government spending creates inflation 2. Government purchases of goods and services,
Dependence on agricultural production: Dependence on agricultural production and primary product for exports. The external sector comprises Imports and Exports, Ghana shows de
How the above would apply to non-renewable resources such as oil. This has general applicability to any competitive market. The issue here is that potential supply has a finite
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what is the theory of supply
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