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Comparative Advantage:A theory of international trade which originated with David Ricardo in early 19th Century and is maintained (in revised form) within neoclassical economics. Theory holds that a national economy would specialize through international trade in those products that it produces relatively most efficiently. Even if it produces those products less efficiently (in absolute terms) than its trading partner, it may still prosper through foreign trade. The theory relies on several strong assumptions - including an absence of international capital mobility, a supply-constrained economy.
assume you are selling a product and when your price is decreased by 29% your quantity demanded increases by 55%. What is your price elasticity of demand?
discuss the implications of various market structures(competitive and non-competitive)for price determination
Problem: a. With the help of diagrams, describe how the price and quantity of potatoes will change under the different circumstances: (i) A severe drought affecting its pro
Q. Define Credit? Credit:Ability to purchase something without immediately paying for it - through a credit card or bank loan, a mortgage or any other forms of credit. Creation
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4 The demand schedule c
Why some country saving less and consumption more?
Problem: i) What might be the possible causes of inflation according to economic theory? ii) Taking stable prices and full employment as two macroeconomic objectives of gov
For the pizza seller whose marginal, average variable, and average total cost curves are shown in the following diagram, what is the profit-maximizing level of output and how much
Participation in Global System of Production: As national economies are getting more inter-linked, the share of foreign components in most manufactured products is progressiv
How might a change in the exchange rate affect the domestic economy of the country? A change in the exchange rate - ceteris paribus - will alter relative prices between trading
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