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Question 1 Identify the basic postulates of economics
Question 2 Discuss the role of price mechanism
Question 3 Explain the shape and application of Engel curve
Question 4 Discuss the various features of optimal expansion path
Question 5 Once a price-quantity combination is determined, an oligopoly firm does not find it profitable to change its price. What is the logic behind this?
Question 6 Graphically explain Keynesian theory of interest
#question.PROPERTIES OF INDIFFERENCE CURVES WITH TABLE AND DIAGRAM.
Entrepreneur: The entrepreneur or enterprise is a special factor of production that is in charge of the organization of the other three factors of production (land, labour and
Public Expenditure Trends: The expenditure pattern of the Government sector has been generally guided by the concern about the role of the State in the economy, both as invest
Briefly explain the main macroeconomic objectives of governments. Definition of macroeconomic issues Growth a) Enhance in national income per unit of time, a
COBWEB MODEL: Concept of dynamic stability: A market equilibrium is said to dynamically stable only when disequilibrium price and quantity move and over time reach to any eq
Define Nash equilibrium
Economies of Scope The ability of a organization to decrease its unit costs by producing two or more products or services that involve complementary skills, experience and
LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so
Risk Loving - A person is a risk loving if they show a preference toward the uncertain income over a certain income having same expected value. Examples: Gambling, some
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