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Services and goods that are used for their ultimate end purpose, meeting some human desire orneed. Consumption may include private consumption (by individuals, financed from their personal incomes) or public consumption (like health care oreducation - consumption organized and paid for by government). Consumption is different from investment, which includes using produced services and goods to expand future production.
the conclusion
negative slope on ppf represents what?
Before explaining returns to scale it will be instructive to make clear the distinction between change in the scale and changes in factor proportions. The difference between the ch
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Current Cropping Pattern: It is evident from these data that foodgrains constitute the most dominant crop group that is cultivated in India. It is estimated that total croppe
Prove that the utility approach and the indifference curve approach yield the same consumer equilibrium.
Ask quesThe market demand for brand X has been estimated as Qx = 1,500 - 3Px - 0.05I - 2.5Py + 7.5Pz where Px is the price of brand X, I is per-capita income, Py is the price of
The most fundamental economic problem is scarcity.
A control in economics means a steady profit rate that is enhancing. Thus, after one year you could have £1mill profit then the next year £3mill profit etc.
how to write an overall introduction about gdp?
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