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Balance of Payments
Perhaps the most immediate reason for bringing in protection is a balance of payment deficit. If a country had a persistent deficit in its balance of payments, it is unlikely to be able to finance these deficits from its limited reserves. If therefore becomes necessary for it adopt some form of restriction on imports (e.g. tariffs, quotas, foreign exchange restrictions) or some means of boosting its exports (e.g. export subsidies).
Market Structures This refers to the nature and degree of competition within a particular market. Capitalist economies are characterised by a large range of different market
a. A major freeze destroys a large number of orange trees in Florida Ans- Since the freeze destroyed a large number of orange trees in Florida the number of oranges the selle
ELASTICITY OF DEMAND
Firm and industry supply schedules The plan or table of possible quantities that will be offered for sale at different prices by individual firms for a commodity is called su
structure of managerial economics
Explain the importance of Managerial economics Managerial economics bridges the gap among 'theoria' and 'pracis'. The tenets of managerial economics have been derived from quan
Shifts in the supply curve Shifts in the supply curve are brought about by changes in factors other than the price of the commodity. A shift in supply is indicated by an entir
Environmental issues factors This is governed by the below factors: The type of economic system of the country Business cycles Industrial policy of the countr
What are the limitations of managerial economics
Marginal Revenue Marginal revenue is the additional revenue an organization receives resulting from the sale of one more item of output. Marginal revenue is calculated by takin
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