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Working Capital: A business requires a certain revolving fund of finance to pay for regular purchases of initial labour, raw materials and other inputs to production. Working capit
why does gap between the ATC curve and the AVC curve decreases as the level of output increases
What are the three approaches to measuring GDP? The three approaches are: a) The production approach, b) The spending approach and c) The income approach.
The Money Creation Process is explained below: We can now study the money supply or the creation process. Suppose the government wishes to buy pencils worth Rs. 10 for the offi
How many hours will an individual allocate to leisure if their indifference curves between consumption goods and leisure are concave to the origin? Show in figures and explain in
Policy Implications: The expansion of the services sector has wider implications for population, employment, and trade prospects of the economy, some of which are as follows:
The functions of money include; (1) medium of exchange, (2) store of value, and (3) a calculate of worth. Due to money is acceptable as a form of payment for all commodities,
Let {(y i * ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where y i * and x i satisfy the linear relationship y i * = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈
Use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more women en
Money facilitates market activities and is essential in complex market systems. With money people can avoid the problems associated with coincidence of wants. Between, these pro
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