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What is the difference between economics and business?
Economics is the study of how we, the people, engage ourselves in production, distribution and consumption of goods and services in a society while; business is conducted to earn profit for our own use. Whatever we do to earn our livelihood is known as our business.
Functions
whit is mean super normal profit
Suppose a family earns £1,500 per month and can either pay £0.50 per square foot in monthly rent for an apartment in the private rental market, or accept a 1,500 square foot house
Consider the model of corruption explored by Shleifer and Vishni's where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
How economic theory explain optimum pattern of consumption for an individual consumer
how to make attractive assignment on theory of supply
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
Q. What do you meant by Private Equity? Private Equity: A form of business in which company's entire equity base is owned by one or a small group of individual investors. Under
Efficiency of exchange
Problem 1: a. Describe the concept of opportunity cost, using the production possibility curve. b. What are the fundamental problems of an economy? Describe how the command
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