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Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
What are the important functions to maximize total surplus? The market equilibrium maximizes total surplus since the market performs four significant functions are as follows:
What is consumer surplus? What is its significance and what causes it to change?
concept of innovation theory of profit and criticism
assingnment on production cost
what is a perfect competition and how does it differ from monopoly?
SUMMARY OF THEORY OF PRODUCTION
Q=8000-800P
not that long ago we experienced the excitement of thinking we would have cheaper online books and free music. these visions that we had of a free market utopia that blinded us to
Q. Explain about Banking Cycle? An economic cycle that results from cyclical changes in the attitudes of banks toward lending risk. When economic times are good, bankers become
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