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What is the distinguishing characteristic of institutions in the public purpose sphere?
The distinguishing characteristic of institutions in the public purpose sphere is that they exist to serve the common good for a group larger than an individual or family, and do not have the goal of making a profit.
The economic model forecasting involves estimating several simultaneous equations which are generally behavioural equation mathematical identities and market clearing equations. T
what is break even quantity
Risk Loving - A person is a risk loving if they show a preference toward the uncertain income over a certain income having same expected value. Examples: Gambling, some
Evaluation of the WTO: The WTO is different from and an improvement over the GATT in the following respects: • The WTO is more global in its membership. • The WTO ha
what is fixed and variable inputs with more explanation
suppose you have a coffee shop. list of fixed input and variable input for operating the shop
what is discounting principle?
What should be the decent/appropriate growth rate in any country? Answer: A growth rate of among 2-3% is considered normal for mature developed countries; for LICs, 5-7% is
use the concept of the income elasticity of demand to explain the difference necessities, luxuries and inferior goods
Economies of Scale
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