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Costs of Economic Growth (Increase in National Income)
1. People living in industrial towns suffer from the effects of a polluted atmosphere.
2. The manufacture of intoxicants together with urbanization and urban housing problems leads to an increase in crimes. This creates for the state the additional costs of the maintenance of prisons and a large police force to maintain law and order. Thus social welfare would be increased if the production and sale of intoxicants are curtailed.
3. While the expansion of the National Income owes a great deal to scientific research the application of research to new means of destruction add nothing to social welfare.
4. It leads to employment of women in industry leading to children being left without care or simply maternal care.
USES OF NATIONAL INCOME FIGURES We need national income statistics to measure the size of the "National cake' of goods and services available for competing uses o
Q. Explain about Smooth Convex Isoquant? Smooth Convex Isoquant: This kind of isoquant presumes continuous substitutability of capital and labour over a certain range, beyond
The emergence of managerial economics as a separate course of management studies can be attributed to at least three factors: 1. Growing complexity of business designs maki
Q. Define Profit maximisation theory? Profit maximisation theory defines that firms (corporations orcompanies) will establish factories where they see potential to achieve the
Types of isoquant
Q 3. What is Demand Forecasting? Explain in brief various methods of forecasting demand.
Question 1: Explain the central theme of Scientific Management. Do you think that the scientific management enhances productivity in the organization? Give your arguments.
PRINCIPLES OF AN OPTIMAL TAX SYSTEM When taxes are imposed certain conditions must be fulfilled. These conditions are known as Principles or canons of taxation. According to
Problem 1: Using relevant examples, discuss the pricing strategies that firms can use to capture value from their customers. Problem 2: You are a manager in a perfectl
Burden of the national debt The extent of the burden on a nation of public debt, depends in the first place on whether it is an external or an internal debt. The burden of th
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