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Explain the roles of economics theory. Roles of Economic Theory An economic theory has three probable roles: a. This can be used to describe economic behavior and economi
Sources of Economic growth: Human resources: Investment in human capital is considered as an important factor for economic growth. This is done by increasing the quality of
The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b
Consider the following linear program in primal form and develop the dual formulation in a detailed manner. Use matrix notation in developing the dual. Clearly express all the dual
Impact of Economic Reforms on Labour: It would be of interest to study the industrial relations scenario in the pre-reform and post-reform period. Data provided in table 8.4 r
What is the difference between economics and business? Economics is the study of how we, the people, engage ourselves in production, distribution and consumption of goods and
Strong Domestic Economy: We have to realise that healthy export sector can be built up only on a strong and efficient domestic economic structure. A sound domestic economy is
What is Hybridization? Atomic orbitals can be combined, in a process called hybridization in chemistry , to describe the bonding in polyatomic molecules. Descriptions of the b
Advantages of Division of labour: Division of labour has advantages including the following: Development of Greater Skill by the Worker In division of labour, each
According to the Linder theory ,trade will occur in goods that have overlapping demand. With aid of a graph ,illustrate this theory and its implications
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