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Q. Why does government undertake an economic activity?
If ever an activity has large externality or spill over and includes a large number of people, it may be found better that government undertakes it. As David Hume once pointed out, it is easy for two persons to agree/bargain for terms of draining a field affecting them but it would be very difficult for a large number of persons to make the decision on terms of sharing cost of drainage.
how do a traditional economy, a market, a centrally planned economy, and a mixed economy differ?
Suppose there are two inputs in the production function, labor (L) and capital (K), which can be combined to produce Y units of output according to the following production functio
Explain the stages and various coordination mechanisms involved in policy processes. Discuss various factors that influenced the agenda setting in policy processes
Public Economics can broadly be understood as that Economics which deals withpublic intervention in the economy. Its domain is supposed to encompass rationalefor public interventio
examine the efficiency of quantitative credit control instruments.
Pigovian Analysis The starting point of the Pigovian welfare analysis is the notion that there is a resource allocation problem that can be optimally solved. Through hi
With a background from the previous section we now study some of the critical characteristics of policy process. You have already studied earlier various technical theories relatin
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Development of Green Indicators Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
Question: Describe the main measures of size and/or cutoff point below which economies are classed as small? In 1982 the Development Committee of the World Bank and the Int
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