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Statistical technique used to estimate economic variable
Some statistical techniques are used to estimate economic variables of interest to a manager. In a number of cases, statistical estimation techniques used are simple. In other cases, they are much more advanced and complex. So a manager may want to know the average price received by his competitors in the industry in addition to the standard deviation (a measure of variation across units) of product price under consideration.
explain the law of demand. briefly discuss the exception to the law of demand
Real and nominal measures Output, Expenditure and Income can be valued at current market price in which case we speak, for example, of money or Nominal NNP, or NNP valued
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Indian industry has progressed a lot because of globalization. A lot of development has been seen in Indian industry.
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