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What is the Adam smith view of "invisible Hand"?
Invisible hand is an unknown power which is working for the interest of total economy. In any economy, everybody cares for his/her personal advantage in the market but market as a whole also runs very smoothly which means that there is some unknown power behind economic market which is running the entire economy. One example of this invisible hand is Government itself.
the full detailed of market structure their characteristic ,sources with clear explanation
Time Value of Money The time value of money is the price or value placed on time. It is commonly thought of as the opportunity cost related with a particular investment. Money
Joe is the owner-operator of Joe’s Haircuts Unlimited. Last year he earned $100,000 in total revenues and paid $65,000 to his employees and suppliers. During the course
The Acme Bakery in the seaside resort town of Malvino sells freshly baked bread to two categories of consumers: residents of the town and tourists. The weekly demand from touris
What is snob effect
Costs: If raw materials, machines and other things required for production could be made available freely then the study of the theory of the production and indeed, the study of
prove that the utility approach and the indifference curve yield the same consumer equilibrium.
The Long-Run Supply of Housing * Scenario 1: Owner-occupied housing - Suburban or rural areas - National market for inputs * Questions - Is this an increasing or co
discuss utility
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
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