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Government and Price-Determination can be understood as follows:
The government might intervene in the market and mandate the maximum price (price ceiling) or the minimum price (price floor) for a commodity or service.
A price ceiling is the maximum price limit which the government sets to ensure that prices don’t rise above that particular limit (medicines)
A price floor is the minimum price which the Government sets to support the required commodity or service in a society (wages)
Social cost is the cost of an economic decision, whether private or public, borne by the society as a whole.
Marginal social cost is the change in social costs due to unit change in output.
TRADE IN SERVICES: India had objected to the inclusion of trade in services in the agreement for the UR negotiations. The Indian negotiations continued to raise object
1. Lake Kickapoo, TX, is approximately 12 km in length by 2.5 km in width. The inflow for the month of April is 3.26 m3/s and the outflow is 2.93 m3/s. The total monthly precipitat
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# ???? .. difference between gdp at market price and nnp at factor cost
multiplier static and dynamic
Define the tools of Competitive market. Competitive market: The supply and demand model a. The demand curve b. The supply curve c. Factors which cause the demand cu
explain any two factors that cause the shifts in the balance of payments curve.
The following is the information from the national income accounts for a hypothetical country: GNP Rs. 5000.00
ACCOUNTING SYSTEM-EXAMPLE III Now suppose the Jam Co. manufactures some herbal chemicals and flavors which it sells partly to Extracts Co., partly to Bottling Co., some are co
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