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Allocation Function
The shifting or reallocation of production property into or out of markets based on shifts in prices for the products or services produced in that market. If price moves in a technique that indicates an increase in requirement, more firms may try to enter that market and gives a supply to meet that requirement. Conversely, if price shifts in such a way that demand looks to be diminishing, several firms may choose to leave the market and direct their resources elsewhere.
critical of comparative advantage theory
Ask qI run a company that makes household power plants that use microeconomic textbooks to generate enough electricity each day for one house. Since there are a lot of used microec
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what is demand forecasting and defines its techniques
Q. Define Economies of Scale? Economies of Scale: Most economic production requires producing firm or organization to make an initial investment (in real capital, in design and
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