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Q. What is Economic efficiency?
Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is that all resources will be put to their highest value uses.
what are the merits and demerits of deductive inductive methods in economic analysis?
This method is also known as Experts opinion methods of investigation. In this method instead of depending upon the opinion of buyers and salesmen firms can obtain views of the spe
COST-OF-LIVING INDEXES * The CPI is computed each year as the ratio of cost of a typical group of consumer goods and services today in comparison to the cost during a base per
why is the concept of elasticity crucial to the study of economics?
(Granger, 1969, 1988), where it can be addressed in terms of a VAR (vector auto regression) system. If an export platform is important for the country, FDI inflows should result in
Wage Labour: A form of work in that employees perform labour for others, under their direction, in return for salaries orwages. Employer controls and owns the product of the labour
what is stagnation thesis?
What is Game Theory? Game Theory is a mathematical method of decision-making in which a competitive situation is examined to verify the optimal course of action for an interes
Closesubstitute goods: The number of closesubstitute goods The more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. Fo
the law diminishing marginal utility explain through flow chart
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