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Q. What is Cost effectiveness analysis?
Cost effectiveness analysis A method which seeks to identify the least cost option for meeting a particular objective. It actives prioritisation between options, but ultimately cannot assess whether an option is economically worthwhile.
causes for emergency of monopoly
Commodities that are viewed as luxuries typically have price elastic demand, and commodities that are requirements have price inelastic demand. There is easily no substitute for a
Social cost: Social cost of production refers to the cost incurred by a society when its economic resources are used to produce a given commodity. The usage of a society’s res
why value of marginal product is negatively sloped
National Income Determination: National Income Determination deals with what determines the size of a nation’s national income. The size of a nation’s national income is deter
What is the theory of second best
IMPLICATIONS OF FAILURES OF POLICY IMPLEMENTATION: Given the phenomenon of policy failures, as indicated above, one often comes across the view that places the blame for these
A Period of Deterioration: The entire period was very difficult for India's BOP, partly because of slow growth of exports in relation to import requirements and partly because
what are fundamentals of welfare economics?
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
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