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Cost-based methods - Relocation Cost
This method is applicable in situations where natural environment in a particular area is put to some alternative use. For example, the cost of establishing a new protected forest area. In this method, the flow of ecological functions is maintained as in restoration cost and replacement cost techniques.
The difference, however, is that instead of recreating ecological functions in the vicinity, the inhabitants are moved to a different locality.
Mr. X enters into a contract with Mr. Z under which Z agreed to build a customized telescope for X for $500. The value of the completed telescope to X will be $600. Expecting that
Draw a simple circular flow of income model for a private sector economy. Label all of the flows, as well as the markets where all exchanges take place. Describe the exchanges, a
concept of indifference curve
eiplain why indifference curve are convex to the origin
stages and various coordination mechanisms involved in policy processes..
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examine the efficiency of quantitative credit control instruments.
reallocation of the resources from 1 efficient point to another efficient point that cause the production of x increase and production of y decrease hold the condition of contrect
Question 1: Briefly (three or four paragraphs) give reasons for your answer. (a) In studying the public sector, economists should use either positive or normative economics
types of welfare economics
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