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Williamson, Wachter and Harris (1975) suggest promotion incentives within the firm as a substitute to morale-damaging monitoring, where promotion is based on objectively measurable performance. (Difference between these two approaches may be that former is applicable to a blue-collar environment whereasthe latter to a white-collar one).
The Economics of Population Population issues became matters of economic concern when it became increasingly apparent that the problem of excess population may be a serious ob
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Compensatory Financing Two other schemes for alleviating the effects of commodity trade instability have been operating for a number of years. These are the IMF's Compensator
Q. What is Monopoly? The term 'Monopoly' has been derivative of Greek term 'Monopolies' that means a single seller. So, monopoly is a market condition in that there is a single
General and Selective Credit Control These are imposed with the full apparatus of the law or informally using specific instructions to banks and other institutions. For insta
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
A firm with market power has estimated the following demand function for its product: Q = 12,000 – 4,000 P where P = price per unit and Q = quantity demanded per year. The firm’s t
Structural Unemployment The decline of the highly localized industry due to international trade causes great problems of regional (structural) unemployment. If it would take
PUBLIC SECTOR BORROWING REQUIREMENT (PSBR) Public Sector Borrowing Requirement (PSBR) is the amount which the government needs to borrow in any one year to finance an excess e
What are terms included in oligopoly? Oligopoly includes: • The meaning of oligopoly, and why it arises • Collusion • Game theory, particularly the concept of the pris
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