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What are the two main forms of economic distribution? What is the difference between them?
The two major forms of economic distribution are exchange and transfer. Exchange includes a two-way distribution, trading one thing for another, whereas a transfer includes a one-way distribution, giving something with nothing specific expected in return.
You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a
Distinction between Human Capital and Resource and Manpower Health and education are normally considered as human capital. Health includes both physical health and fitness. E
Non-Tradable:Some products can't be transported over long distances or otherwise sold to consumers from far-off locations. These products (including some goods as well as most serv
Assume that milk operates in a perfectly competitive market, use a well labeled demand and supply model to explain how market equilibrium price of milk is being determined.
Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
Explain how diminishing returns differ from diminishing returns to scale. The answer should clearly distinguish among SR (one or more factors are fixed) and LR (where all facto
How equilibrium is achieved under monopoly
Secondhand smoke globally kills more than 600,000 people each year, accounting for 1 percent of all deaths worldwide, according to a new study. . . . Researchers estimated th
the prevention of major swings in economic activity cn be handled most easily by the financial or government sector?
What is What is Critical Temperature? Why Critical Temperature is Specified in Equation? Describe critical temperature specification...
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